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