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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, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
Tuesday, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
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- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
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