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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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
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- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
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