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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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- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
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