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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
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