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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, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
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Showing 2051 to 2055 news of total 6871 |
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- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
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