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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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Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
Monday, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
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- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- The University of Queensland
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
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