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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, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
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- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- The University of Queensland
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
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