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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
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