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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, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
Thursday, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
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Showing 1971 to 1975 news of total 6871 |
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- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
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