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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Parliament of New Zealand
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
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