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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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Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
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