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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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Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
Wednesday, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
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- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
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