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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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Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- White Energy Company Limited
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Posco Energy - South Korea
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- SMC Global Power, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
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