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