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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, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
...
Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
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- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Planning Commission, India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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