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