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