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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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Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
Tuesday, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
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Showing 1931 to 1935 news of total 6871 |
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- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- The University of Queensland
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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