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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, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- The University of Queensland
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- London Commodity Brokers - England
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