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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Deloitte Consulting - India
- Australian Coal Association
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
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