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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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Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
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- MS Steel International - UAE
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
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