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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, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
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- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Australian Coal Association
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
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