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