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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, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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