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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, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
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