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