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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Planning Commission, India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
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