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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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Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
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- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- The University of Queensland
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Planning Commission, India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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