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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, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
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- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
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