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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- ASAPP Information Group - India
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