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