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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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
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