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