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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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Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Australian Coal Association
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
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