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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, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1851 to 1855 news of total 6871 |
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- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Videocon Industries ltd - India
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