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.
|
|
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
|
|
|
Showing 931 to 935 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
|
| |
| |
|
