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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, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
Wednesday, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
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Showing 2076 to 2080 news of total 6871 |
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- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
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