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Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
 2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OPEC producing countries in November 2016 decided to curtail oil output jointly and ease the global glut after more than two years of persisting low prices that overstretched many economies a big part of which depends on oil production. This long-awaited strategic approach after a long period during which oil prices where trading under $50/bbl – and sometimes even below $30/bbl, was aiming in steadying and eventually strengthening oil prices, which in turn would offer the chance for new offshore Oil & Gas exploration projects to kick off, mainly during the second half of the year.
With the first half of the year ending in a few weeks’ time, we can say that this agreement was successful up to a point, as oil prices have more or less stabilized at around $50-55/bbl up from around $45-50/bbl. The partly successful results have led to a new agreement between OPEC and non-OPEC countries to extend the output cut for further nine months, in other words until the end of March next year.
The fact that the market has finally started to show stability signs, after the beginning of the collapse in oil prices that kicked off in the summer of 2014, as well as that oil producing countries, are jointly working together to successfully support prices and appear committed to keep doing so until that happens, is a positive message for all those currently involved in the industry as well as potential investors. However and unfortunately so, the Offshore Support Vessel (OSV) market still suffers from oversupply in all types of offshore units. This together with slow demand and lack of profitable offshore projects has had a few significant drawbacks in the industry. Charter rates have reached breakeven levels more than a few times, more than 350,000 industry workers have been led off so far, around 100 offshore units (including resales) are laid up at the moment, big offshore groups have been merging in order to survive and many shipowners have been trying to restructure their loans in order to keep operating.
It is a fact that all those firms involved in the oil & gas exploration industries have been facing a particularly challenging couple of years, focusing exclusively on staying afloat until oil prices and demand recover to a point where the environment of operation becomes attractive again. Surviving during this period has been made possible throughout a number of ways such as the immediate cut of expenses, which comprises of laying up vessels and/or selling older units as well as new and improved business models which include mergers and alliances together with the entry of new technologies that can improve the performance and operation of these models. Lastly, we witness that even the selection of specialized employees is now a process that is taking place with much more diligence than before.
As far as the eventual recovery of the market is concerned, it looks like in the next months we will continue to witness positive sings. Indeed, we have so far seen improved activity in many regions with regards to ocean towages/rigs/exploration projects, which make us hopeful that we have ‘reached’ the bottom and that going forward there is only one way to go and this is up. Saying that, the speed in which the recovery will be reached will determine how many additional “casualties” this crisis will have, with chances of many offshore vessels re-entering lay-up status and some of them, especially the really old ones being sold for demolition.
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, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
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Showing 1906 to 1910 news of total 6871 |
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- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
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