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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, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
Monday, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
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Showing 1966 to 1970 news of total 6871 |
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- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- The University of Queensland
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
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