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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, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
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