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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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Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
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- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- White Energy Company Limited
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
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