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