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Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
 There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing challenging moments, markets have been violently disrupted and it will become even more visible later on that governments around the world will experience major shifts in their respective political and economic power.
As we have already witnessed, Brent prices are experiencing their lowest levels in 17 years, closing at $27.2 per barrel last Friday, whereas West Texas Intermediate crude (WTI) closed at $23 per barrel. According to Goldman Sachs analysts, the price of Brent, which is the international benchmark, “could dip as low as $20 per barrel and test operational stress levels”.
A week ago, Bank of America warned that the US is close to a new major recession due to the worldwide spread of the Covid-19. Simultaneously, oil producing countries keep on increasing their production at record levels amidst a price war between Russia and Saudi Arabia, after OPEC+ (OPEC and Russia) failed to come to a consensus over additional production cuts. Official selling prices lowered by as much as 20% have been also used as “weapons” in this price war.
At the moment, global demand for oil hovers around 100 million barrels per day. Yet, as consumption is gradually decreasing due to the tremendous economic shake of the COVID-19 and the subsequent containment measures, demand could possibly plunge an additional 20% according to some first estimations. The final outcome of this crisis still remains unknown; however, certain analysts reassure that some more optimistic scenarios are possible to play out. According to Andreas de Vries, advisor at Saudi Aramco, the successful containment policies against the Covid-19 pandemic and the implementation of stimulus packages could stem the secondary and tertiary effects on the economy.
The oil market status quo calls for an a pragmatic resolution aiming to terminate the price war. Nevertheless, a termination of the price war will not be able to push prices back to $60 plus per barrel, with levels around $40 seeming more realistic if major producers come to an agreement. As de Vries highlights, even in the best-case scenario, the average crude price will still remain considerably below what most producing countries need in order to successfully balance their respective budgets. Indeed, the extent of the virus containment measures that are currently being implemented will affect to a massive degree a number of sectors that are heavyweights for the economies of many of the producing nations, like tourism for example.
At the same time there is a growing number of voices that warns for a series of major economic consequences, with the worst-case scenario being a global economy devastated by a wave of continuous bankruptcies. We are seeing significant economic stimulus announced around the world, with the U.S. expected to reach soon a deal on a $2 trillion coronavirus aid, but the effectiveness of the implementation of these packages remains uncertain at this stage. A failure of these stimulus measures to support vital sectors of the economies around the world will lead to a prolonged crisis that could prove worse than the big downturn of 2008, but for now let’s remain reservedly optimistic and hope it doesn’t come to that.
By Apostolos Rompopoulos
Tanker Chartering Broker
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.
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Wednesday, 26 February 20
AS ALL OF THE GLOBAL COAL GIANTS EXIT SOUTH AFRICA, ESKOM TO DEPEND ON TWO MINERS FOR 70% OF ITS SUPPLY - BUSINESS INSIDER
While some of its politicians continue to imagine that coal has a future in South Africa, two key developments from the real world show that securi ...
Tuesday, 25 February 20
DELTA DUNIA MAKMUR REGISTERED A NET PROFIT OF US$20 MILLION FOR FY 2019
PT Delta Dunia Makmur, one of the largest coal mining company in Indonesia, has recorded an US$882 million revenue for FY 2019, 1% lower compared t ...
Tuesday, 25 February 20
SHIPPING UPDATE - ALLIED
The positive feeling and optimism for a fresh rally during the first few months of 2020 that prevailed in the tanker markets during the final quart ...
Monday, 24 February 20
COULD SOME VLSFO FUELS BE BANNED? - GIBSON
The run up to the implementation of the new IMO rules on marine fuels from1st January 2020 had owners and charterers analysing the vari ...
Monday, 24 February 20
CHINA SAYS MAJOR COAL FIRMS RESTORE 95% OF PRODUCTION CAPACITY - REUTERS
China’s coal companies controlled by the central government have resumed operations and are back at more than 95% of their capacity, an offic ...
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Showing 1106 to 1110 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- White Energy Company Limited
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