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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, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- The University of Queensland
- MS Steel International - UAE
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
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