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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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- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
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