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