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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
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