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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, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Australian Coal Association
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
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