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