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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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Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
Monday, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
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- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
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