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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, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Economic Council, Georgia
- The University of Queensland
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
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