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