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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, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
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Showing 1971 to 1975 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
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