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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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Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
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- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
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