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