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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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Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
Tuesday, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
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- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- MS Steel International - UAE
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- PTC India Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
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