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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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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
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- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- The University of Queensland
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
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