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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, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
Thursday, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
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- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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