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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, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
Tuesday, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
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Showing 1941 to 1945 news of total 6871 |
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- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Minerals Council of Australia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
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