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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, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Planning Commission, India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- MS Steel International - UAE
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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