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Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
 There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing challenging moments, markets have been violently disrupted and it will become even more visible later on that governments around the world will experience major shifts in their respective political and economic power.
As we have already witnessed, Brent prices are experiencing their lowest levels in 17 years, closing at $27.2 per barrel last Friday, whereas West Texas Intermediate crude (WTI) closed at $23 per barrel. According to Goldman Sachs analysts, the price of Brent, which is the international benchmark, “could dip as low as $20 per barrel and test operational stress levels”.
A week ago, Bank of America warned that the US is close to a new major recession due to the worldwide spread of the Covid-19. Simultaneously, oil producing countries keep on increasing their production at record levels amidst a price war between Russia and Saudi Arabia, after OPEC+ (OPEC and Russia) failed to come to a consensus over additional production cuts. Official selling prices lowered by as much as 20% have been also used as “weapons” in this price war.
At the moment, global demand for oil hovers around 100 million barrels per day. Yet, as consumption is gradually decreasing due to the tremendous economic shake of the COVID-19 and the subsequent containment measures, demand could possibly plunge an additional 20% according to some first estimations. The final outcome of this crisis still remains unknown; however, certain analysts reassure that some more optimistic scenarios are possible to play out. According to Andreas de Vries, advisor at Saudi Aramco, the successful containment policies against the Covid-19 pandemic and the implementation of stimulus packages could stem the secondary and tertiary effects on the economy.
The oil market status quo calls for an a pragmatic resolution aiming to terminate the price war. Nevertheless, a termination of the price war will not be able to push prices back to $60 plus per barrel, with levels around $40 seeming more realistic if major producers come to an agreement. As de Vries highlights, even in the best-case scenario, the average crude price will still remain considerably below what most producing countries need in order to successfully balance their respective budgets. Indeed, the extent of the virus containment measures that are currently being implemented will affect to a massive degree a number of sectors that are heavyweights for the economies of many of the producing nations, like tourism for example.
At the same time there is a growing number of voices that warns for a series of major economic consequences, with the worst-case scenario being a global economy devastated by a wave of continuous bankruptcies. We are seeing significant economic stimulus announced around the world, with the U.S. expected to reach soon a deal on a $2 trillion coronavirus aid, but the effectiveness of the implementation of these packages remains uncertain at this stage. A failure of these stimulus measures to support vital sectors of the economies around the world will lead to a prolonged crisis that could prove worse than the big downturn of 2008, but for now let’s remain reservedly optimistic and hope it doesn’t come to that.
By Apostolos Rompopoulos
Tanker Chartering Broker
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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- PTC India Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Australian Coal Association
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
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