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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, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
Wednesday, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
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Showing 2021 to 2025 news of total 6871 |
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- White Energy Company Limited
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
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