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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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- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
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