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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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Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
Saturday, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
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- Sical Logistics Limited - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
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