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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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- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Trasteel International SA, Italy
- Planning Commission, India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
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