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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
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- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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