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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, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
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