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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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Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
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