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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, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
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Showing 1736 to 1740 news of total 6871 |
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- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- The University of Queensland
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
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