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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, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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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- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
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