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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, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
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, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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