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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, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- The University of Queensland
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
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