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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Romanian Commodities Exchange
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Bhatia International Limited - India
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