We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
 The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and decisive response to Covid-19, unemployment rates rocketed to unprecedented figures. This was a key contributor to the near one-third shrinkage of the economy. Driving restrictions within the US and the decline in countrywide GDP have adversely affected gasoline and oil demand throughout the nation.
Being one of the most predominant global crude oil consumers, South Korea has seen its exports plummet to significant lows. This is likely to cause a nationwide recession which will further reduce global demand for oil. Chinese oil demand has gradually softened thus reducing the price per oil barrel in Asia. At the same time, derivative markets which add value to North Sea crude oil grades, are in a frail state.
The oil consumption outlook does not appear to be any better in Europe, with Finnish refiner Neste Oyj predicting that demand for oil products will remain “severely reduced” in the third quarter. Despite the recent historic deal between OPEC+ nations to cut global oil output, crude oil remains priced at around $40/barrel. Energy analyst C. Markits predicts an average price of $43/barrel for Brent in July; this figure may rise to $50 by December provided that oil demand will begin to recover. However, this is just one of many highly speculative scenarios.
The IMF argues that plunging crude prices coupled with global production cuts are expected to significantly affect oil exporters in the Middle East and North Africa. Combined oil income for these exporting regions is projected to decrease by $270 billion y-o-y from 2019. According to S&P Global Ratings, country members of the Gulf Cooperation Council are set to accumulate a combined $490 billion in government deficits between 2020 and 2023.
Responses to the economic shock
Saudi Arabia tripled its VAT in the past month in an effort to reverse the deficit and revive its economy. This is expected to reduce its deficit by $27 billion. At the same time, the government announced the suspension of cost-of-living allowances for its employees. Additionally, several governmental operational and capital expenditures will either be cancelled, extended, or postponed whereas major projects will materialize under strictly reduced provisions. Saudi Arabia plans to privatize state-held assets in healthcare, education and water utility sectors to raise additional funds. Saudi Finance Minister Mohammed Al-Jadaan argued at a Bloomberg forum that Arabian exporters could receive billions from such privatizations over the next five years.
Kuwait - which is one of the world’s wealthiest countries - is also facing a severe budget crunch. After having a running deficit that could reach 40 per cent of its economy this year, the Kuwaiti Finance Ministry is seeking permission from parliament to tap global debt markets for as much as $65 billion. However, Kuwait’s options are limited. The General Reserve Fund has been used aggressively in recent months. This has left its liquid assets in a vulnerable state and they could be further depleted within the current fiscal year, or by April 2021.
By Apostolos Rompopoulos
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.
|
|
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
|
|
|
Showing 636 to 640 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
|
| |
| |
|
