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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, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
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