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.
|
|
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
Tuesday, 08 December 20
PANAMAX: THE OVERALL MARKET SEEMS TO BE UNDER NEGATIVE PRESSURE - ALLIED
Capesize
A rather indifferent week for the Capesize market, with BCI 5TC figure finishing the week with slight losses of 0.8%. The Atlantic enj ...
Friday, 04 December 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 04 December 20
THE INDONESIA COAL PRICE REFERENCE REACHES THREE MONTH HIGH ON IMPROVING DEMAND OUTLOOK
COALspot.com: The Indonesia Coal Price Reference reaches three month high on improving demand outlook . The Indonesia Coal Price Reference rose by& ...
Wednesday, 02 December 20
GLOBAL MINING SECTOR OUTLOOK STABLE DUE TO CHINA'S RECOVERY - FITCH RATINGS
China’s post-pandemic economic recovery and sizeable infrastructure-focused government stimulus boosted global metals and mining prices, help ...
|
|
|
Showing 716 to 720 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
|
| |
| |
|
