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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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Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
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- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
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