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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, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
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- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
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