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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, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
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Showing 1996 to 2000 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
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