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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, 09 September 19
ULTRAMAX: ASIA A 58,000-TONNER FIXED DELIVERY FUZHOU, VIA INDONESIA, REDELIVERY CHINA, AT $12,800
Capesize
0px The market reached new heights this week as the 5TC topped $38,014, a level not seen in the sector since 2013. Fridays 5TC closed ...
Wednesday, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
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- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Ministry of Mines - Canada
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
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