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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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Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
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