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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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Tuesday, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
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Showing 1946 to 1950 news of total 6871 |
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- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
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