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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, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
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Showing 1961 to 1965 news of total 6871 |
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- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
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