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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, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
Monday, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
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Showing 1916 to 1920 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
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