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Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
 As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil price rally that has now brought the commodity at a three-year high, while the highest monthly average during the same period was achieved during December.
It is now a rather wide market expectation that prices will remain at satisfactory levels in the following months, with $60/barrel currently considered a strong resistance level prices won’t easily go below of. The driving forces of the oil price momentum have been the much publicized OPEC policy – and its most recent extension - the weakening of the USD and of course healthy global oil demand being sustained.
There are also of course those who are less optimistic out there. Their expectations call for a $10-15/barrel correction taking place in the next months, mainly arguing that supply and demand fundamentals do not really support the price the commodity has reached and that the levels of the past month in particular are rather unrealistic.
Oil prices have always been one of the most crucial factors influencing the course of the entire offshore industry and most specifically the offshore drilling activity/gas exploration industry, which in turn shape the fate of all offshore units ranging from oil rigs to PSV and AHTS.
After all, let us not forget that one of the main reasons that the main reason behind offshore units being laid up or sold for scrap or converted as of the end of 2014, was no other than the steady decline of oil prices back then, which eventually laid to the re-consideration and sometimes the cancellation of a number of drilling projects that were upcoming back then.
2017 was undeniably a better year for the offshore drilling market, with both day rates and utilization rates improving – marginally indeed but improving nonetheless. A number of SnP transactions were also recorded as far as oil rigs are concerned and several company acquisitions took place as well, with that of Songa Offshore being acquired by Transocean Ltd being one of the most important. Additionally, more than 60 oil rigs were scrapped or retired, which means that a bit of the oversupply weight has slowly started being lifted during the past months.
Despite the above mentioned improvements and activity, the reality is that the Deepwater drilling market is still dealing with oversupply, far from healthy day rates and a big lack of commitment on behalf of major oil companies as far as long term investment projects are concerned.
Therefore the question that comes to mind is what should we expect for this year. Most of the optimism at this stage is stimulated by South America and more specifically Brazil, where a number of Petrobras tender requests for rigs and offshore units are expected to take place this year, while not very far from Brazil, there are additional optimistic signs coming from countries like Argentina and Peru, where substantial drilling activity/number of projects are expected to come on line/take place in the following years.
Hopefully the above will bring further improvement in the market and lay the ground for truly healthy fundamentals in the next couple of years.
By Panos Makrinos
Offshore Director
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
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