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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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Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
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