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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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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
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