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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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Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
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- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
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