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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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Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
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- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- The University of Queensland
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
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