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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, 23 January 20
COAL-BASED ELECTRICITY GENERATION SURGES 95% IN 2019 - PROFIT PAKISTAN TODAY
Coal-based power generation jumped 94.5 percent to 2,030 Gigawatt hours (GWh) in the year to November 2019, taking its share in the country’s ...
Wednesday, 22 January 20
INDIA: COAL PRODUCTION FROM CAPTIVE MINES RAISES 24% OUTPUT IN APRIL TO DECEMBER - FINANCIAL EXPRESS
Coal production from captive mines in the first nine months of the ongoing financial year was up 24% year-on-year (y-o-y) at 40.93 million tonne (M ...
Wednesday, 22 January 20
SHIPPING MARKET INSIGHT - INTERMODAL
It seems that we are finally seeing whitish smoke as far as the trade feud between the US and China is concerned, while following this much anticip ...
Tuesday, 21 January 20
IRON ORE - 5 THINGS TO WATCH IN 2020 - WOOD MACKENZIE
Wood Mackenzie identifies five trends that will impact the iron ore industry.
Slower demand growth (especially in China) and a decen ...
Tuesday, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
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- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
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