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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, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
Monday, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
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- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- PTC India Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Planning Commission, India
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