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