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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, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- McConnell Dowell - Australia
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