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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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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Sical Logistics Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
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