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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, 12 February 20
COAL INDIA WILL EXCEED LAST YEAR'S PRODUCTION FIGURES: OFFICIAL - PTI
Despite coal production being hampered at Dipka mines due to prolonged rains, Coal India Ltd will exceed last year’s production figures, a to ...
Wednesday, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
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- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
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