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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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Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
Wednesday, 25 December 19
EXHAUST GAS CLEANING SYSTEMS (SCRUBBER) GUIDANCE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a few weeks, IMO’s ‘global sulphur cap’ will take effect. The permitted levels of SOx in ship emissi ...
Wednesday, 25 December 19
INDONESIAN BUKIT ASAM TARGETS TO MINE 30 MLN T OF COAL IN 2020 - REUTERS
Indonesian state-owned coal miner PT Bukit Asam targets to produce around 30 million tonnes of coal in 2020, compared with an estimate of 28.5 mill ...
Wednesday, 25 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As another year in the shipping industry is coming to an end, it is interesting to look at the dry bulk and tanker markets and how these performed ...
Monday, 23 December 19
VLSFO PRICING & AVAILABILITY NEEDS CAREFUL WATCHING - INTEGR8 FUELS
As we approach January 1st 2020 , the VLSFO price premium to HSFO has widened considerably
We are clearly well into the IMO 2020 transition; ch ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
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