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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, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
Wednesday, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
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- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
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