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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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- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- The University of Queensland
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- White Energy Company Limited
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
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