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.
|
|
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
|
|
|
Showing 866 to 870 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
|
| |
| |
|
