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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, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
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Showing 1956 to 1960 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
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