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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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Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
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Showing 1946 to 1950 news of total 6871 |
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- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Central Electricity Authority - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Essar Steel Hazira Ltd - India
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