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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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Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1936 to 1940 news of total 6871 |
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- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Economic Council, Georgia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
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