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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Australian Coal Association
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
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