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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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Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
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