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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
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