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