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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, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
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Showing 1926 to 1930 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Planning Commission, India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
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