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.
|
|
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
|
|
|
Showing 1056 to 1060 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
|
| |
| |
|
