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