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