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