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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, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
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