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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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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Kaltim Prima Coal - Indonesia
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