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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 30 December 19
AUSTRALIAN MINERS HIT BY LOWEST THERMAL COAL PRICE IN MORE THAN A DECADE - THE GUARDIAN
Australian coal exporters have experienced the biggest annual drop in thermal coal prices in more than a decade during 2019, raising doubts about i ...
Monday, 30 December 19
INDIA'S COAL IMPORTS RISE 4% TO 161.43 MT IN APRIL-NOVEMBER 2019 - PTI
The country’s coal imports registered an increase of 4.4 per cent to 161.43 million tonnes (MT) in the April-November period of the ongoing f ...
Sunday, 29 December 19
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 (BSPI), a gauge of ...
Sunday, 29 December 19
IMO 2020 COMPLIANCE: IT'S UP TO US TO BE GOOD CITIZENS - IBIA
One of the concerns around implementation of the 0.50% sulphur limit has been, and continues to be, the need for effective enforcement to ensure a ...
Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
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- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
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