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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, 20 November 19
FOREIGN DIRECT INVESTMENTS IN COMMERCIAL COAL MINING IN INDIA? - DIPESH DIPU
In August 2019, Government of India announced its approval for Foreign Direct Investment (FDI) for coal mining, processing and sale. Not that FDI i ...
Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
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- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Australian Coal Association
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
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