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