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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
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