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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, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
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Showing 1936 to 1940 news of total 6871 |
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- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
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