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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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Tuesday, 15 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 Co ...
Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing ...
Sunday, 13 October 19
INDONESIA: PANAMAX VESSELS OPEN SOUTH CHINA WERE REPORTEDLY FIXED AT $14,000 LEVEL, WITH REDELIVERY BACK IN CHINA - BALTIC BRIEFING
Capesize
The Capesize market managed to find a floor and rally a little this week after several weeks of declines. While the West Australia to ...
Friday, 11 October 19
INDIAN MINERS REJECT PLAN TO LINK NATIONAL COAL INDEX TO FOREIGN PRICES - REUTERS
India’s miners are rejecting a government proposal to establish a national coal index that would be linked to international prices, documents ...
Friday, 11 October 19
THE OCTOBER BENCHMARK PRICE OF INDONESIAN THERMAL COAL DECLINES TO LOWEST SINCE OCTOBER 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Australian Coal Association
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
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