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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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Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
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- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- The University of Queensland
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
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