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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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Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
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- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
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