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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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Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
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- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Marubeni Corporation - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
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