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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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Tuesday, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
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- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
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