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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, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
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