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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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Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
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- Eastern Energy - Thailand
- Mjunction Services Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Planning Commission, India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
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