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Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
 As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market during the past year, would continue throughout the year.
This is supported from the oil price, which during the past month has been trading at levels steadily above $55/barrel and having reached higher levels during the year. This is in contrast to past years, when oil prices were ranging between $43-$46/barrel, and even lower during the period 2015-2016, when oil price was less than $30/barrel with most notable the historical low of $22.48/barrel.
Back then we were arguing that with oil prices being low it was almost impossible for big oil producers to look at the possibility of investing in a new project or to implement their planned projects from previous years.
As we already know, this created a big agitation in the market. They were very few projects and a plethora of offshore units and oil rigs. Besides that, plenty of companies/providers of support units or drilling rigs at the specific period had financial issues or even reached the point of bankruptcy.
Many factors have played a role in order for us to reach the point of currently discussing a slow but steady recovery on the market of Drilling & Offshore Support Vessel (OSV). Firstly, the fact that member countries of OPEC agreed to cut oil production until March 2020 in order to increase oil price and demand, which will create desirable conditions for new projects.
The mood of Offshore owners either to lower their OPEX or layup a number of their vessels or alternatively send them for demolition despite being so young, with the purpose of decreasing over-capacity in the market. Another important factor was the appetite of some companies to invest time and money in new technological innovations with lower OPEX and environmentally friendly features that would assist in the implementation of the upcoming projects.
Despite recent news, like the tensions in the Persian Gulf, that may slowdown the return to healthier margins in the Offshore industry and create uncertainty, it is estimated that Drilling activity will continue to witness a positive annual growth in the upcoming years, as long as the oil price stablilises around $60/barrel and the cost of developing Offshore Oil & Gas declines significantly. Something similar is expected to happen in the Offshore Support Vessels (OSV), which is expected to exhibit further growth on the activity and rates in the next years based on the rise of Deepwater development activities.
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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Tuesday, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
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- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- The University of Queensland
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
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