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