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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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Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
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