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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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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
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- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
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