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