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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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Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
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- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
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