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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, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
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- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
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