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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, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
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- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
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