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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
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