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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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Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
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