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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, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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Showing 2031 to 2035 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Australian Coal Association
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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