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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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