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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
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Saturday, 01 February 20
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Friday, 31 January 20
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Thursday, 30 January 20
PRIVATE SECTOR COMPANIES SEEK 'LEVEL PLAYING FIELD' FOR COAL BLOCK AUCTION - PTI
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- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Planning Commission, India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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