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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, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
Tuesday, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
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Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
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- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
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