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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, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- Parliament of New Zealand
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
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