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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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Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
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- Videocon Industries ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Central Electricity Authority - India
- ASAPP Information Group - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
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