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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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Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
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Showing 1841 to 1845 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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