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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, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
Thursday, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
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Showing 1991 to 1995 news of total 6871 |
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- The University of Queensland
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- PTC India Limited - India
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