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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
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