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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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Monday, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
Tuesday, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
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Showing 1921 to 1925 news of total 6871 |
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- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
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