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Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
 Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cater to the liquefied natural gas trade and floating platforms. The oil price crash in 2014 has had a catastrophic effect on the offshore and marine sector - one of the jewels of the Singapore economy. Some light has appeared at the end of the tunnel, however no one in the industry is talking about a major rebound yet. The rig-building industry in particular, has been on the mend in recent months as market activity continues to pick up. This could hopefully mark the beginning of an overdue recovery for the world's two biggest firms in the sector - Keppel Offshore & Marine (Keppel O&M) and Sembcorp Marine.
The offshore industry as a whole, along with a first class finance sector, has been a key pillar of Singapore’s economic transformation into a first world economy since it’s independence and a source of national pride. The collapse in oil prices over the last years has resulted in thousands of jobs lost, several defaults by big organizations and billions of dollars in debt restructurings.
Now, as oil prices pick up, the offshore industry in Singapore is slowly recovering and we hope coming back to life. The offshore and marine engineering industry’s direct output contribution has almost been halved since 2014 to about 1 percent of the city-state’s economy, but its significance extends beyond manufacturing itself and has an impact across various segments.
On a positive note last month we saw two major listed groups linked to Malaysia's richest tycoon Robert Kuok joining forces to penetrate Taiwan's budding offshore wind sector. POSH (PACC Offshore Services Holdings) and Kerry TJ Logistics in mid July formalised a joint venture for Taiwan's offshore wind market. Mr Kuok is a controlling shareholder of POSH, a Singapore-listed offshore support, tugowner and vessel operator.
About one-third - 40 - of the vessels in POSH's current fleet are suited for deployment in offshore wind projects. Of course with the group’s joint venture POSH Terasea, they also have access as a specialist to offshore marine markets primarily focusing on niche specialty services like long haul ocean towage, mooring installation of FPSOs, Floating Production Systems, towage of semi-submersibles and other offshore installations.
Looking at the overall picture, the bigger question is whether the Singapore firms should consider to move out of the rig-building business altogether or diversify activities and reduce exposure. The offshore and marine engineering industry of Singapore remains an important one for the country, contributing 1.3 per cent to the economy in year 2015, with a value-add of $4.95 billion.
The numbers may be less impressive than the 1.9 per cent gross domestic product contribution seen in 2014 (just before the prolonged collapse of oil prices), with a $7.15 billion value-add, but the fact remains that Singapore continues to hold around 70 per cent of the global market for jack-up rig manufacturing as well as FPSO vessel conversion. Obviously this is a very strong position that has an impact across several industries of the Singaporean economy.
By Christopher Whitty
Towage and Port Agency Division
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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.
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Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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Showing 1626 to 1630 news of total 6871 |
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- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Parliament of New Zealand
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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