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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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Showing 911 to 915 news of total 6871 |
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- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
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