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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
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