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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, 30 September 20
MARKET INSIGHT - INTERMODAL
Spot rates for Capesize bulk carriers received a significant boost last week, however, there are certain reservations in the market regarding the p ...
Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
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- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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