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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, 08 August 17
COAL SALES DESTINATION IS DOMINATED BY DEVELOPING COUNTRIES IN ASIA - ADARO
COALspot.com: Adaro Energy has produced 13.27 million tonnes of coal during the second quarter of 2017, from the mines PT Adaro Indonesia, PT Semes ...
Tuesday, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
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Showing 1981 to 1985 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- VISA Power Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
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