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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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Friday, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
Friday, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 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, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
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- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
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