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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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Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
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- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
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