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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, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
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- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
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