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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, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
Thursday, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
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- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
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