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.
|
|
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
|
|
|
Showing 911 to 915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- The University of Queensland
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
|
| |
| |
|
