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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, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- The University of Queensland
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
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