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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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Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
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- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
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