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