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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, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
Friday, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
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Showing 2006 to 2010 news of total 6871 |
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- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
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