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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, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
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Showing 1891 to 1895 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
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