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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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Wednesday, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
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