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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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Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
Thursday, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
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Showing 1956 to 1960 news of total 6871 |
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- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
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