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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Australian Coal Association
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
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