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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
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- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
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