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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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Monday, 24 June 24
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Friday, 14 June 24
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Friday, 14 June 24
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Thursday, 13 June 24
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- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
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