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