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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, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
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Showing 2046 to 2050 news of total 6871 |
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- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
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