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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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Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
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Showing 2001 to 2005 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- GMR Energy Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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