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