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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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Wednesday, 14 October 20
CHINA COKING COAL FUTURES RALLY ON REPORTED BAN ON AUSTRALIA CARGOES - REUTERS
Dalian coking coal futures rallied for a sixth straight session on Tuesday after reports surfaced that China had stopped buying coal from Australia ...
Wednesday, 14 October 20
MARKET INSIGHT - INTERMODAL
The tanker market has experienced severe freight rate and asset value declines over the past 5 months. A potential market upturn may arise in the c ...
Friday, 09 October 20
INDIA'S COAL IMPORTS IMPROVE SOMEWHAT, BUT RECOVERY IS UNEVEN - REUTERS
India’s coal imports, depressed by the impact of coronavirus this year, regained ground in September, but in an uneven uptick – shipmen ...
Thursday, 08 October 20
CHINA'S COAL IMPORTS FROM INDONESIA DECLINED 16.4% Y-O-Y, TO 80.2 MLN TONNES IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
China's coal imports boomed in 2019, surprising many who had expected the government would clamp down strictly on shipments.
...
Thursday, 08 October 20
GLIMMER OF LIGHT FOR COAL, BUT SHORT TERM - FNARENA
Is coal on the rebound? Demand appears stronger and supply reductions have underpinned a tightening market. Certainly, the Newcastle thermal coal p ...
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- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Parliament of New Zealand
- ASAPP Information Group - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
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