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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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Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
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- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- The University of Queensland
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
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