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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, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Anglo American - United Kingdom
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