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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, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
Wednesday, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
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Showing 1901 to 1905 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Planning Commission, India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
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