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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Planning Commission, India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
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