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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, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
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Showing 1881 to 1885 news of total 6871 |
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- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Planning Commission, India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
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