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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, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
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- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- The Treasury - Australian Government
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- CNBM International Corporation - China
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
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