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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, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
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