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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, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
Monday, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
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Showing 1966 to 1970 news of total 6871 |
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- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
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