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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, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
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- Energy Development Corp, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- The University of Queensland
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
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