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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, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
Wednesday, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
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Showing 1976 to 1980 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- PTC India Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- The University of Queensland
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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