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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, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
...
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- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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