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