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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, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
Monday, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
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Showing 1986 to 1990 news of total 6871 |
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- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
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