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Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
 The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s prices that led, after a very long time, in large oil producers rethinking the revival of old and the beginning of new projects, which provided an opportunity for owners to charter their vessels in a healthier offshore business.
This positive momentum of the aforementioned increase in bunker’s prices continued up until recently and was largely affected by two main reasons. Initially, OPEC member countries agreed with Russia to extend oil supply cuts by an additional 500,000 barrels a day through the end of March 2020. Secondly and even more significantly, more than 5 percent of Saudi Arabia’s daily global oil production was disrupted as a result of the unexpected attacks on the country’s oil facilities.
Following these events, the price of Brent crude oil surpassed $70 per barrel this year while many expected the commodity to reach even higher levels as everything pointed out that we were moving towards a “cold-war” between U.S.A and Iran. However, the intervention of other countries denied bunker prices another leg up, with oil gradually slipping back to low $50 per barrel.
It is worthwhile mentioning that during the previous year the market benefitted from healthy activity as far as activity in projects and charter requirements for offshore vessels delivered to West Africa, United Arab Emirates and India Region were concerned, while in terms of the number of reported second-hand deals of AHTS/PSV units, buyers appetite grew significantly during that period. Along the same lines, scrapping activity remained firm, pushing as a result prices for secondhand OSV vessels up by 40% in some cases, while tonnage supply came down as a result and distressed deals started becoming scarce.
However, as 2020 kicked off, market momentum started to wane and uncertainty currently prevails in the market. Even if the long-awaited trade agreement between the US and China was finally signed, the positive spill overs will probably not be felt until later on in the year. In addition, tension in the Middle East last month together with the effects of the coronavirus on global economy and international trade that seem to be worsening day by day, are adding to the lack of confidence among market participants in regards to future oil prices.
Indeed, the first trading day in China, following the New Year holidays in the country, has already seen the local administration imposing tough measures to contain the virus, while many businesses are expected to remain shut in the coming weeks, leaving little room for an imminent improvement both in oil prices and investors’ sentiment.
By Panos Makrinos
Offshore Director
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
Thursday, 30 January 20
PRIVATE SECTOR COMPANIES SEEK 'LEVEL PLAYING FIELD' FOR COAL BLOCK AUCTION - PTI
Private sector companies scouting opportunities for commercial coal mining in the country are seeking a “level playing field” to encour ...
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- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
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