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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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Tuesday, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
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The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
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- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
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