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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, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
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, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Planning Commission, India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
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