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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, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
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Showing 1981 to 1985 news of total 6871 |
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- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
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