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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, 21 October 19
SHIPPERS CHANGE COURSE AS FUEL RULES TARGET SULPHUR EMISSIONS - WOOD MACKENZIE
The International Maritime Organization (IMO), the industry’s regulator, will require all ships to reduce the level of sulphur in their engin ...
Monday, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
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- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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