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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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Saturday, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- Interocean Group of Companies - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
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