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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, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Romanian Commodities Exchange
- Planning Commission, India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
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