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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, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
Tuesday, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
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- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- The University of Queensland
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
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