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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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Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
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- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
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