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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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Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
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Showing 1856 to 1860 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
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