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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, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- The University of Queensland
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
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