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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, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
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