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