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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, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- The University of Queensland
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
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