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Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
 Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of years. The harsh reality is that offshore owners have been dealing with equally bad and sometimes even worse conditions that those owners in the more conventional sectors have been facing.
Since the second half of 2014 and up until today, offshore owners have witnessed a very depressed and volatile market, while as the majority of industry specialists all around keeps stressing that the market is due to face at least another couple of difficult years before things start to improve, sentiment remains very fragile.
The key factor behind this depressed and volatile offshore marker has without a doubt been the continuous decrease in the crude oil price, which primarily happened for two reasons. On one hand there was/is the over-supply in production/stock combined with decreased demand for crude oil in Europe, China and a number of developing economies. The second reason is the lack of a common strategic approach between OPEC and non-OPEC countries that has consistently been weighing down on crude oil prices since 2014. In fact, from the level of $115/bbl in June 2014, prices reached $35/bbl in February 2016 and have currently settled at around $46/bbl. Irrespectively of how optimistic someone is, the above is certainly evidence that unless very specific and collective action on behalf of major producers takes place, prices will need sufficient time in order to reach again levels closer to $100/bbl.
The current lows have led major oil and gas companies to significant losses, with the majority of them trying to alter their strategic approach and to minimize their investments with respect to production and exploration. Global investment in production and exploration has in fact fallen from $700 billion in 2014 to around $580 billion in 2015, while a decrease of at least 20% is expected this year. The end of 2016 will also mark the first time that the offshore industry witnesses three years of continuous decrease in investment production.
The cost/investment downsize approach that oil companies are undertaking, is directly affecting oil workers and companies owning OSV (Offshore Supply Vessels) that provide services in re-supply functions and towage or rescue services to offshore drilling platforms. As expected, in the current state of the market, oversupply poses a major issue in both the Anchor Handling Tug Supply (AHTS) as well as the Platform Supply Vessels (PSVs) fleet, while taking into account the new-building vessels that will be delivered in the remainder of 2016 as well as during next year, we expect excess supply to keep weighing down on the market for longer. Having identified the specific issue, big offshore groups like MAERSK for example, which own the specific vessels types, have announced that they will recycle, modify or sell to non-Oil and Gas owners in order to minimize the help tackle the issue.
This over-supply in the offshore market has resulted in both modern and older offshore vessels being offered for sale in very attractive prices compared to previous years but also with respect to the price these were built, creating without a doubt asset play opportunities for those willing to risk a prolonged - possible beyond 2018 - market downturn.
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 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
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Showing 2311 to 2315 news of total 6871 |
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- Eastern Energy - Thailand
- MS Steel International - UAE
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
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