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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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Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the st ...
Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
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Showing 2011 to 2015 news of total 6871 |
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- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- The University of Queensland
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Indian Energy Exchange, India
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