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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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Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Friday, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
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Showing 1986 to 1990 news of total 6871 |
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- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Aditya Birla Group - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
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