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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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Monday, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
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