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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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Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
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- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Economic Council, Georgia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
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