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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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Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
Thursday, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
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- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
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