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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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Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
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