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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, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Planning Commission, India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- ASAPP Information Group - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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