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