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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, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
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