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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, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
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- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Minerals Council of Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- The University of Queensland
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
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