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