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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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
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