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