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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, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
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- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
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