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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, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
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- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- ASAPP Information Group - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
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