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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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Sunday, 26 January 20
SHIPPING NEEDS TO PREPARE FOR CORONAVIRUS RESTRICTIONS WARNS HILL DICKINSON
The shipping industry needs to be prepared for potential restrictions in order to prevent the further spread of the ‘Wuhan’ coronavirus ...
Friday, 24 January 20
LOW-SULPHUR FUEL OIL PRICES DROP USD 99 PER MT IN SINGAPORE - BIMCO
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric ...
Friday, 24 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINED FLAT DURING THE PAST WEEK - XINHUA
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 553 yuan (about 80.1 U.S. dollars) ...
Thursday, 23 January 20
PANAMAX: ANOTHER DISAPPOINTING WEEK IN BOTH THE ATLANTIC AND THE PACIFIC BASIN - FEARNLEYS
Cape Size
From bad to worse for the biggest ships as prices for low-sulphur fuel oil remain high whilst freight rates deteriorate further. Aver ...
Thursday, 23 January 20
AFRICAN POWER PLATFORM PUBLISHES REPORTS ON POWER SECTOR FRAMEWORK FOR SELECTED AFRICAN COUNTRIES
Press Release: African Power Platform publishes Reports on Power Sector Framework for selected African Countries
With the repo ...
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- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
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