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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, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
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