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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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Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
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- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
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