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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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Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
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- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- The University of Queensland
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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