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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
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- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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