We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
 As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in a bull run lately. Amidst an oversupplied oil market and expectations of production cuts and consequent oil price hikes, the large contango effect has made profitable several storage plays during the past couple of months, occupying a lot of ships as a result, while in addition to that, several countries decided (amid bottoming oil prices and the Coronavirus pandemic emergency) to increase to the maximum their strategic petroleum reserves (e.g. the US SPR already has 634 million barrels in storage vs. a total capacity of 713 million barrels).
Key stakeholders in the industry created an additional hype by characterizing this meeting as one of the most important and historic events in the last two decades, creating expectations that any deal would lead to a further spike in short-term activity. There were of course also some less optimistic voices in the industry insisting that deal or no-deal the tanker market remained fundamentally weak in the long term, with the pandemic restrictive measures around the world already leading to a 25-35 million b/d or 30% decrease in demand. Following the end of the meeting, OPEC+ announced output cuts of 9.7m b/d for May and June, 8m b/d for the remainder of 2020 and 6 million b/d for the period January 2021-April 2022. The record cuts we are about to witness in the next couple of months are almost equal to 10% of global supply, while together with non-OPEC+ member cuts the figure could even reach the equivalent of 1/5 of global supply.
This means that May onwards cargo loadings will definitely see significant declines and this will most likely have a negative impact on the tanker freight market. Because of this expectation, we could possibly see producing countries trying to pump out as much product as possible before the agreement enters into effect, which could offer some support to the tanker market before we reach May 1st.
Looking further ahead and as “expecting the unexpected” is something everyone must have gotten used to by now, I’d say that there are a few possible scenarios in which neither the oil market dries up, nor prices manage to stabilize at much higher levels and push freights down. We have seen many times during previous output cuts that there have been some non-compliant members and we won’t be surprised to see certain producing countries eventually ramping up production above what was agreed this time as well.
Not only would such a development restore part of the cargoes lost, but it would also cause great dissatisfaction to compliant members that would start losing market share due to non-compliance and this could eventually lead to a new price war as a result. In addition to that, global demand for oil will gradually begin to increase as countries around the world eventually start to exit the pandemic emergency state and return to normality, while let’s not forget the amount of tonnage that has been used for storage and will not be competing for business in the tanker market.
By Ilias M. Lalaounis
SnP 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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
|
|
|
Showing 56 to 60 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
|
| |
| |
|
