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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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Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
Thursday, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
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- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
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