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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
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