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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
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- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Petron Corporation, Philippines
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