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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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Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
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- Interocean Group of Companies - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Minerals Council of Australia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
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