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