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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, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
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