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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, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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Showing 1906 to 1910 news of total 6871 |
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- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Australian Coal Association
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- Ministry of Mines - Canada
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
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