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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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Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
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- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
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