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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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Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
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- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
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