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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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Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
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- Videocon Industries ltd - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
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