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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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Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
Wednesday, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
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- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
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