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