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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
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- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- The University of Queensland
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
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