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Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
 The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a supply chain expansion from companies involved in exploration and production and modest activity levels.
With oil prices mainly ranging between $65-$70/barrel throughout the bigger part of the first quarter, refinery capacity additions in major regions have been the key drivers contributing to the recovery of the sector.
Even though spending levels were retained quite low after the 2014 industry recession, some companies had the advantage to invest, prompted by stronger prices during this year. Saudi Aramco, will be this year’s biggest spender as the company is expected to invest over $18 billion for the Marjan and Berri expansion projects, while ExxonMobil has $15 billion of offshore work approval.
Another sign that might be indicating that the offshore industry is recovering is the floater rig count which is finally moving upwards counting around 120 contracted rigs against 115 during last year. Diamond offshore, Seadrill and Transocean are some of the owners with the highest number of contracted years operating out of Latin America and the Gulf of Mexico.
Additionally the US Gulf Of Mexico lease sale drew the attention of operations whose total bids exceeded $110 million, making it the highest total bid of the past two years compared to previous lease sales, Lease 249 and Lease 250, the bids of which had reached $28 million and $38 million respectively.
The European market has also seen more activity in terms of investments, following almost four years of consecutive declines in interest, while the improved environment in the UK and Norway have been mainly the ones helping this positive turnaround.
Additionally, a rapid rise in subsea tree installations is projected for the global offshore industry in the coming years. According to Rystad Energy; “As the oil price has recovered since 2016, the subsea market has shown clear signs of improvement. Subsea tree installations can be seen as a main driver for this growth. We expect a substantial increase in demand in coming years.”
The market of Offshore Supply Vessels (OSV) is also facing a growth of up to 10%, which will give a nice breather to what has been a depressed environment as this segment mainly depends on the maintenance/needs and supply operations of existing platforms.
Last year, we noticed that offshore projects increased by more than 20%, which was a very positive sign compared to the 2014-2016 period when most companies had to postpone or even cancel their planned projects as the oil price per barrel was well below $6. 2019 has kicked off positively and although oil prices have corrected downwards lately, we do expect this to be another improved year as support for oil prices by OPEC and other major producers is expected to resume.
By Panos Makrinos
Offshore Director
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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Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
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