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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, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
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