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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, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
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