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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, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
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- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Economic Council, Georgia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
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