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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, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
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