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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, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
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