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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, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- White Energy Company Limited
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
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