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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, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
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Showing 2516 to 2520 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
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