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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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Thursday, 30 January 20
CAPE: WITH CHINESE NEW YEAR TAKING PLACE, THE RATES ARE REACHING FURTHER DISAPPOINTING LEVELS - FEARNLEYS
Cape
With Chinese New Year taking place, the rates are reaching further disappointing levels. Present TC average is below USD 4,500, off 24% fr ...
Wednesday, 29 January 20
INDONESIA REMAINS AT THE TOP SPOT IN 2019 AS THE LARGEST SUPPLIER OF COAL TO INDIA WITH 91.3 MLN TONNES - BANCHERO COSTA
Despite repeated promises from India’s government to reduce the country’s coal imports and increase domestic self-reliance, volumes jus ...
Wednesday, 29 January 20
MARKET INSIGHT - INTERMODAL
Last week Libya’s oil production operations were disrupted as it was reported that local Libyan tribes interrupted output at the the El Feel ...
Tuesday, 28 January 20
INDONESIA - UNCERTAINTY OVER AVAILABILITY OF LSFO - THE STANDARD CLUB
The club has received reports that low sulphur fuel is not currently readily available in all Indonesian ports and that there are local shortages.
...
Sunday, 26 January 20
SUPRAMAX: THE ASIAN BASIN SAW A 56,000DWT SHIP FIXING DELIVERY SAMARINDA TRIP TO WEST COAST INDIA AT $4,750 - BALTIC BRIEFING
Capesize
The market endured heavy losses throughout the past week, with the Capesize 5TC dropping from $8,352 to $4,772. In the lead up to Chin ...
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- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
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