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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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Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
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- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Minerals Council of Australia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
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