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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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Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
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- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Indika Energy - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- VISA Power Limited - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
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