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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
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