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