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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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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
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Showing 1826 to 1830 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Planning Commission, India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
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