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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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Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
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- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
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