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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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Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- The University of Queensland
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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