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