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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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Friday, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the st ...
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Showing 2011 to 2015 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
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