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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, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- The University of Queensland
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
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