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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, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
Wednesday, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
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- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- VISA Power Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
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