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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, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
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Thursday, 23 July 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 1.36 MILLION TONS OF BITUMINOUS COAL FOR OCTOBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 1,360,00 ...
Wednesday, 22 July 20
CIL'S COAL SUPPLY TO POWER SECTOR DROPS OVER 21% TO 93.5 MT IN APR-JUN QUARTER - PTI
The supply of coal by state-owned Coal India Ltd to the power sector fell 21.7 percent to 93.5 million tonnes (MT) in the first quarter of the ongo ...
Monday, 20 July 20
KOREA MIDLAND POWER INVITED BIDS FOR TOTAL 2.520 MILLION MT OF BITUMINOUS COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO), has issued an international tender for total 840,000 of Bituminous Coal to be used at Bo ...
Monday, 20 July 20
CHINA'S JUNE COAL OUTPUT FALLS 1.2% YEAR-ON-YEAR OVER ILLEGAL MINING CHECKS - REUTERS
China’s coal output dropped 1.2% in June on the year to 330 million tonnes, official data showed, as major coal mining areas cracked down on ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
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