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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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Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Planning Commission, India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
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