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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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- White Energy Company Limited
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
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