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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- MS Steel International - UAE
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Thai Mozambique Logistica
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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