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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, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
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- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- GMR Energy Limited - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
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