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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, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
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Showing 1846 to 1850 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- PTC India Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
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