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Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
 Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cater to the liquefied natural gas trade and floating platforms. The oil price crash in 2014 has had a catastrophic effect on the offshore and marine sector - one of the jewels of the Singapore economy. Some light has appeared at the end of the tunnel, however no one in the industry is talking about a major rebound yet. The rig-building industry in particular, has been on the mend in recent months as market activity continues to pick up. This could hopefully mark the beginning of an overdue recovery for the world's two biggest firms in the sector - Keppel Offshore & Marine (Keppel O&M) and Sembcorp Marine.
The offshore industry as a whole, along with a first class finance sector, has been a key pillar of Singapore’s economic transformation into a first world economy since it’s independence and a source of national pride. The collapse in oil prices over the last years has resulted in thousands of jobs lost, several defaults by big organizations and billions of dollars in debt restructurings.
Now, as oil prices pick up, the offshore industry in Singapore is slowly recovering and we hope coming back to life. The offshore and marine engineering industry’s direct output contribution has almost been halved since 2014 to about 1 percent of the city-state’s economy, but its significance extends beyond manufacturing itself and has an impact across various segments.
On a positive note last month we saw two major listed groups linked to Malaysia's richest tycoon Robert Kuok joining forces to penetrate Taiwan's budding offshore wind sector. POSH (PACC Offshore Services Holdings) and Kerry TJ Logistics in mid July formalised a joint venture for Taiwan's offshore wind market. Mr Kuok is a controlling shareholder of POSH, a Singapore-listed offshore support, tugowner and vessel operator.
About one-third - 40 - of the vessels in POSH's current fleet are suited for deployment in offshore wind projects. Of course with the group’s joint venture POSH Terasea, they also have access as a specialist to offshore marine markets primarily focusing on niche specialty services like long haul ocean towage, mooring installation of FPSOs, Floating Production Systems, towage of semi-submersibles and other offshore installations.
Looking at the overall picture, the bigger question is whether the Singapore firms should consider to move out of the rig-building business altogether or diversify activities and reduce exposure. The offshore and marine engineering industry of Singapore remains an important one for the country, contributing 1.3 per cent to the economy in year 2015, with a value-add of $4.95 billion.
The numbers may be less impressive than the 1.9 per cent gross domestic product contribution seen in 2014 (just before the prolonged collapse of oil prices), with a $7.15 billion value-add, but the fact remains that Singapore continues to hold around 70 per cent of the global market for jack-up rig manufacturing as well as FPSO vessel conversion. Obviously this is a very strong position that has an impact across several industries of the Singaporean economy.
By Christopher Whitty
Towage and Port Agency Division
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, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
Friday, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
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Showing 1651 to 1655 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- The University of Queensland
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
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