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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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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
...
Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
Tuesday, 04 February 20
CAPE: THE AVERAGE EARNINGS PER DAY FELL BENEATH THE USD 4,000, A LEVEL CONSIDERABLY BELOW EVEN THE MOST CONSERVATIVE OPEX LEVELS - ALLIED
The recent slump in the dry bulk freight market may well have been expected to some degree, but despite this the shock was still overwhelming when ...
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- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- The University of Queensland
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
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