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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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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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- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
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