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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, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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Showing 1631 to 1635 news of total 6871 |
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- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Australian Coal Association
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
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