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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
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