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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, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
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- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
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