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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, 14 January 20
SHIPPING MARKET ANALYSIS - ALLIED SHIPBROKING
Uncertainty in the global geopolitical sphere seems to have not come to an end along with 2019, as 2020 commenced with renewed tensions between the ...
Tuesday, 14 January 20
DRY BULK MARKET: "THIS IS NOT THE END OF COAL" SAYS IEA - BALTIC EXCHANGE
A historic drop in coal-fired electricity generation will not sway global coal demand from its upward trajectory through to 2024, though growth wil ...
Saturday, 11 January 20
ARE YOU 95% CONFIDENT THAT YOUR VERY LOW SULPHUR FUEL IS ON SPEC AND MARPOL COMPLIANT? - GARD
KNOWLEDGE TO ELEVATE
Bunker fuel is a commodity and, like all commodities, is produced and sold according to specifications. Bunkers are usual ...
Saturday, 11 January 20
NEW PRICING COULD SPELL TROUBLE FOR CHINA'S COAL SECTOR - CHINA DIALOGUE
Benchmark coal tariffs have been the foundation of China’s electricity pricing since 2004 but this mechanism was replaced on January 1 with a ...
Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
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- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
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