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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, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
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Showing 2016 to 2020 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
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