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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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Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
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- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Australian Coal Association
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
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