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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, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
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Showing 1826 to 1830 news of total 6871 |
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- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
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