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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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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Australian Coal Association
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Economic Council, Georgia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
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