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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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Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
Thursday, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
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Showing 2001 to 2005 news of total 6871 |
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- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
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