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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, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the st ...
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Showing 2011 to 2015 news of total 6871 |
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- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- The University of Queensland
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
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