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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, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
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Showing 1961 to 1965 news of total 6871 |
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- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
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