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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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Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
Friday, 22 November 19
UNCERTAINTY IN THERMAL COAL MARKET PERSISTED IN 3Q19 - ADARO
Uncertainty in thermal coal market persisted in 3Q19, mainly due to the actions, or inactions, of China in setting policies for global coal market. ...
Friday, 22 November 19
CIL TO DEVELOP 55 NEW COAL MINES IN NEXT 5 YEARS: COAL MINISTER
State-owned CIL will develop 55 new coal mines and expand 193 existing ones in the next five years, Parliament was informed. The company is also un ...
Thursday, 21 November 19
4TH DEEP OFFSHORE WEST AFRICA CONGRESS 2020
4th Deep Offshore West Africa Congress 2020
17 Janaury 2020
Accra, Ghana
Press Release: Following the great succ ...
Thursday, 21 November 19
INDONESIA PLANS TO KEEP $70/T COAL PRICE CAP FOR PLN, DMO - REUTERS
Indonesia’s energy minister Arifin Tasrif said his ministry plans to maintain a price cap on coal being sold to state electricity utility, PT ...
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- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- The University of Queensland
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
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