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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, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
Monday, 02 December 19
GREENER LNG IS VITAL TO ASIA'S SUSTAINABLE DEVELOPMENT - WOOD MACKENZIE
Asia struggles with the world’s worst air pollution. Delhi hit the headlines in November 2019 as levels spiked to such hazardous levels that ...
Monday, 02 December 19
5TH EAST & SOUTHERN AFRICA GAS & LNG CONFERENCE 2020
5th East & Southern Africa Gas & LNG Conference 2020
April 2-3
Maputo, Mozambique
5th East & Southern Afri ...
Monday, 02 December 19
5TH DEEPWATER EAST & SOUTHERN AFRICA CONGRESS 2020
5th Deepwater East & Southern Africa Congress 2020
April 2-3
Maputo, Mozambique
5th Deepwater East & Southern ...
Sunday, 01 December 19
6TH CENTRAL & EASTERN EUROPE NUCLEAR INDUSTRY CONGRESS 2020
6th Central & Eastern Europe Nuclear Industry Congress 2020
January 20-21 | Prague, Czech Republic
Overview
6th ...
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- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
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