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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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- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
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