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, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
|
|
|
Showing 896 to 900 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- The University of Queensland
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
|
| |
| |
|
