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