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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, 23 September 19
CHINA RECORDS SLOWER GROWTH IN COAL PRODUCTION - XINHUA
The growth of China’s raw coal production slowed down in August, data from the National Bureau of Statistics (NBS) showed.
Aro ...
Friday, 20 September 19
INDIA TO INVITE BIDS FOR COMMERCIAL COAL MINING IN DECEMBER - MINISTER FOR COAL
India aims to begin the process of holding the first round of commercial coal mining auctions December end, Minister for Coal, Mines and Parliament ...
Friday, 20 September 19
INDIA: ECONOMIC SLOWDOWN IMPACTS COAL IMPORT CARGO IN H1 FY20 - PTI
Economic slowdown has impacted coal import cargo in the first half of this fiscal, as overall cargo growth at major ports registered a marginal gro ...
Wednesday, 18 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
During the first week of September, I had the privilege of attending the Donsö Shipping Meet 2019, in Donsö, a small island of around 1,& ...
Tuesday, 17 September 19
PANAMA SHIP REGISTRY MODERNIZES SHIP REGISTRATION
The Panama Ship Registry has announced it will integrate in a single platform “Electronic Ship Registration System (ESRS)” the present ...
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- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- White Energy Company Limited
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- The University of Queensland
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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