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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, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
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- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Planning Commission, India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
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