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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, 24 July 19
COAL'S DEMISE QUICKENS IN EUROPE AS MARKET SHIFT IDLES PLANTS - BLOOMBERG
Commodity markets are stripping away the case for coal in Europe, moving quicker than government efforts to close the most polluting power plants.
...
Monday, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
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- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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