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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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Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
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Showing 2316 to 2320 news of total 6871 |
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- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
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