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