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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
 This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand. For now, the upward momentum that drove the price of Brent crude oil to $70/bbl has stalled; partly due to investors taking profits, but also as part of the corrections we have seen recently in many markets. Most importantly, the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.
Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
The main factor is US oil production. In just three months to November, crude output increased by a colossal 846 kb/d, and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader. All the indicators that suggest continued fast growth in the US are in perfect alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging. In early 2018, the situation is reminiscent of the first wave of US shale growth that, riding the tide of high oil prices in the early years of this decade, made big gains in terms of market share and eventually in 2014 forced a historic change of policy by leading producers. Today, having cut costs dramatically, US producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth. This is a sobering thought for other producers currently sitting on shut-in production capacity and facing a renewed challenge to their market share. Another sobering thought is that it is not just a matter of production: trade patterns are changing. Recently we read of a shipment of condensate from the US to the UAE. Such a development would have seemed incredible a few years ago, now it looks like the shape of things to come.
The components of the oil market balance are dynamic and a lot can change in the next few months: the deteriorating situation in Venezuela is one obvious candidate, and the apparent buoyancy of the global economy could deliver higher demand growth than we currently anticipate. As a result, prices could be maintained at recent levels even as US production rises. If so, most producers will be happy, but if not, history might be repeating itself.
Source: IEA
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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
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Showing 1621 to 1625 news of total 6871 |
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- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Minerals Council of Australia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
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