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