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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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Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- PTC India Limited - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
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