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