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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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Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
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