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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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Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
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- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Australian Coal Association
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
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