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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, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
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Showing 2026 to 2030 news of total 6871 |
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- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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