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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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Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
Monday, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
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- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
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