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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, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
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COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
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