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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, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
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