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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, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
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- ASAPP Information Group - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Australian Coal Association
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
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