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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, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
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