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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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Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Planning Commission, India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
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