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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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
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- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
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