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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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Wednesday, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and i ...
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- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- PTC India Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
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