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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
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- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
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