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