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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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Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- White Energy Company Limited
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Economic Council, Georgia
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