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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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Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
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- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
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