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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, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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Showing 2031 to 2035 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
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