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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, 19 December 19
COAL POWER GENERATION CONTINUES TO DECLINE IN GERMANY: DESTATIS, XINHUA REPORTED
The volume of electricity generated in coal-fired power plants in Germany decreased “markedly” by 37 percent to 34 billion kilowatt-hou ...
Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
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- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
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