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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, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
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- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
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