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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, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
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Showing 2001 to 2005 news of total 6871 |
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- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
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