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