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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, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
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Showing 1411 to 1415 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
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