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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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Monday, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
Monday, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
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Showing 1966 to 1970 news of total 6871 |
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- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Economic Council, Georgia
- Australian Coal Association
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