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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, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
Tuesday, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- The University of Queensland
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
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