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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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Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- The University of Queensland
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
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