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