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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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Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- VISA Power Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
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