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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, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
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Showing 1886 to 1890 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
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