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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, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Planning Commission, India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
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