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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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Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Minerals Council of Australia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
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