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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, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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