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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, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
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- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
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- Deloitte Consulting - India
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- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
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- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
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- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Australian Coal Association
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- PTC India Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
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