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, 09 April 20
SUSPENSION OF WRONGFUL TRADING IN LIGHT OF COVID 19 - WF&W
KNOWLEDGE TO ELEVATE
DIRECTORS’ PERSONAL LIABILITY FOR WRONGFUL TRADING – RELIEF DURING THE CORONAVIRUS CRISIS
As the UK&rsquo ...
Wednesday, 08 April 20
LESSONS LEARNED FROM SCRUBBER INSTALLATION AND OPERATION - ABS
KNOWLEDGE TO ELEVATE
At the beginning of this year, the IMO’s global sulfur cap on marine fuels entered into force and shipowners who ch ...
Wednesday, 08 April 20
MARKET INSIGHT - INTERMODAL
With lockdown measures around the globe tightening during the last weeks of Q1, there is finally a feeling that most countries are slowly but stead ...
Tuesday, 07 April 20
SHIPPING MARKET ANALYSIS - ALLIED
With the first quarter of 2020 now firmly written in the books, it is worth examining what we have witnessed so far in the tanker market. Undoubted ...
Tuesday, 07 April 20
IS CHINA EMBARKING ON A MAJOR EXPANSION OF COAL-FIRED POWER GENERATION? - WOOD MACKENZIE
As energy companies worldwide grapple with the economic impact of the coronavirus pandemic, long-term planning continues. Ahead of the release of t ...
|
|
|
Showing 1021 to 1025 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
|
| |
| |
|
