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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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Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Minerals Council of Australia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
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