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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, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
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