International Maritime Associates (IMA) is a firm of business consultants specializing in market analysis and strategic planning for companies in the marine and offshore sectors.
April 15, 2017Jim McCaul -- Orders for production floaters have finally begun to flow. The break came early this year when contracts for a production semi for use in the GOM and an FPSO for use off Malaysia were awarded.
December 12, 2016Jim McCaul -- Donald Trump’s presidential win and Republican sweep of the US government in November – along with OPEC’s oil production cuts in December -- have injected new dynamics into the US energy
April 28, 2016Jim McCaul -- No question that the market for new floating production systems has taken a battering. The past 12 to 18 months have been a difficult period for everyone in the business sector. Absence of
Fear of a new oil demand/supply imbalance has rattled the oil market.
Market sentiment has suddenly shifted. Fear that Iran sanctions will cause oil prices to spike to $100+ has been superseded by concern that prices are heading south with no bottom in sight.
Iran sanctions were expected to take a substantial volume of supply from the market. Anticipating this, the Saudis and Russians increased production to offset (take advantage of) the expected loss of Iranian supply. But granting of waivers weakened the sanctions impact and oil demand growth unexpectedly slowed. As a result global supply is now exceeding demand -- and the demand/supply imbalance has the potential to drive prices to levels last seen in early 2016.
Survey results by the US Energy Information Administration show that US crude inventories have increased in each of the past seven weeks -- and the EIA in its 7 November weekly report said "US crude oil inventories are about 3% above the five year average for this time of year." The next survey results on 15 November will likely show further build in inventory.
Oil is a volatile market. On 13 November Brent fell to $65, down 7% from the previous day. WTI dropped to $55, down almost 8%. So much for $100+.
Jim is the founder and manager of IMA, a consulting firm providing market analysis, competitive benchmarking and business planning support in the maritime and offshore sectors. Over the past 40 years IMA has performed more than 350 business consulting assignments for 170+ clients in 40+ countries.
One of the firm’s specialties is analyzing requirements for floating production systems. IMA has published more than 60 reports since 1996 analyzing this business sector and has been engaged by numerous clients to assist in analyzing specific market opportunities in the floating production sector.
Jim is also the co-founder of IMA/World Energy Reports, a New York based business intelligence service for the floating production supply chain.