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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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Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
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- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
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