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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
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