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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- VISA Power Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
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