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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 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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Showing 1816 to 1820 news of total 6871 |
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- Sojitz Corporation - Japan
- The University of Queensland
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
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