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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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Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
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- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Petron Corporation, Philippines
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