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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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Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- PTC India Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
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