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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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Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
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- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
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