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Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
 In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced particularly challenging times, with global demand for the commodity crashing in April and dragging oil prices to unprecedented levels as a result.
COVID-19 caused panic in societies, with lockdowns quickly translating to a severe hit to the global economy. Sadly, this epidemic has killed over 393,000 people so far, with over 6,500,000 cases being recorded worldwide, and even today, it continues to spread terror and uncertainty. Hopes are placed on a vaccine being discovered sooner rather than later in order to provide communities with a big relief on a humanitarian level and to eventually restore confidence across the different markets that economies are jump starting again and doing so at full speed ahead.
As far as oil and gas projects from major oil producers are concerned, since the COVID-19 outbreak, delays and cancellations have been announced, while most hydrocarbon projects are expected to be postponed for one up to three years according to reports. Representative examples of this big setback, especially in the short-cycle projects of the African continent, are those of ENI and TOTAL. The two international oil and gas majors, who have the largest presence in Africa, have already cut off around 25-30% of their investment in exploration and production projects in 2020 in an effort to ensure their survival in the long run.
As expected, offshore service providers such as AHTS and PSVs, have been also hit by this crisis and are currently going through soft demand and disappointing freights, with today’s challenges proving even worse compared to those during the 2015-2017 period. Most offshore unit owners have already lowered their offers at very realistic levels in order to survive as long as possible, with no increase in the number of laid up units as a result. However, if this situation continues for several more months without no visible signs of improvement, the lay-up option will be the only alternative in order to limit costs, which is also what happened during the 2015-2017 period.
Even those more optimistic do not believe that anything will change drastically during the remainder of 2020 for the oil & gas industry, in terms of demand and offshore projects. Undoubtedly, we might see later in the year some tender / projects but a lot of competition is expected for these, which means that no particular positive effect on the industry/rates is expected. It will take a while before we can have a more clear view of what’s ahead and we expect the market to keep facing challenges at least in the short-term, while on the positive side, governments around the world, OPEC and its allies and all concerned bodies and organizations seem to be taking serious action in order to support demand and prices.
By Panos Makrinos
Offshore Director
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
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