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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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Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
Thursday, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
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Showing 1021 to 1025 news of total 6871 |
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- Bangladesh Power Developement Board
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Indonesian Coal Mining Association
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
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