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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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Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- The Treasury - Australian Government
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
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