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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
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- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
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