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