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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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Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
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Showing 1871 to 1875 news of total 6871 |
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- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
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