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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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Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
Saturday, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
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- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- The University of Queensland
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
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