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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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- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
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