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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, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
Monday, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
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Showing 1991 to 1995 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- PTC India Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
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