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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- The University of Queensland
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Australian Coal Association
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
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