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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, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
Friday, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
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- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
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