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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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Friday, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
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- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- The University of Queensland
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
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