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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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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
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Showing 1826 to 1830 news of total 6871 |
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- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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