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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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Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
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