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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
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