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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, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
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- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- The University of Queensland
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
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