We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
 Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Following an initial burst of enthusiasm for the deal, scepticism set in, alongside worries about the global economic background. Prices fell by $10/bbl with Brent crude oil bottoming out on 24 December at just above $50/bbl. For the producers, this was unwelcome, but for consumers it provided a nice present for the holidays. In the US Gulf Coast, gasoline prices in early January averaged $1.89/gal versus the summer peak of $2.79/gal and in India, prices are about 14% below the early October peak. Recently, leading producers have restated their commitment to cut output and data show that words were transformed into actions. In December, OPEC production fell by almost 600 kb/d and Saudi Arabia has signalled that, for its part, further significant cutbacks will take place in January and beyond.
The Brent price has moved back above $60/bbl, so the answer to our question posed last month seems to be a qualified yes, at least for now. However, the journey to a balanced market will take time, and is more likely to be a marathon than a sprint. While Saudi Arabia is determined to protect its price aspirations by delivering substantial production cuts, there is less clarity with regard to its Russian partner. Data show that Russia increased crude oil production in December to a new record near 11.5 mb/d and it is unclear when it will cut and by how much. Other non-OPEC countries joining in the output deal saw higher output, including Mexico.
Elsewhere, there are signs that market re-balancing will be gradual. The trajectory of Iran’s production and exports remains important. In December, total exports increased slightly to over 1.3 mb/d. With US waivers allowing Iran’s major customers to buy higher volumes than was previously thought, more oil will remain in the market in the early part of 2019. Venezuela has seen the collapse of its oil industry slow during the second half of 2018 with production falling recently by about 10 kb/d each month rather than by the 40 kb/d we saw earlier in the year. The level of output in the world’s biggest liquids producer, the United States, will once again be a major factor in 2019. We saw incredible and unexpected growth in total liquids production of 2.1 mb/d in 2018. For this year, we have left unchanged for now our forecast for growth of 1.3 mb/d. While the other two giants voluntarily cut output, the US, already the biggest liquids supplier, will reinforce its leadership as the world’s number one crude producer. By the middle of the year, US crude output will probably be more than the capacity of either Saudi Arabia or Russia.
For oil demand, there is a mixed picture. Falling prices in 4Q18 helped consumers and there are signs that trade tensions might be easing. In many developing countries, lower international oil prices coincide with a weaker dollar as the likelihood of higher US interest rates fades for now. However, the mood music in the global economy is not very cheerful. Confidence is weakening in several major economies. In the short term, there is added uncertainty about oil demand due to the onset of the northern hemisphere winter season, with low temperatures seen in the past few days in many places. For now, we retain our view that demand growth in 2018 was 1.3 mb/d, and this year it will be slightly higher at 1.4 mb/d, mainly due to average prices being below year-ago levels.
In the meantime, refiners face a challenging year. Processing capacity will increase by 2.6 mb/d, the biggest growth for four decades, while margins are already pressured by low gasoline cracks due to oversupply and weak demand. The well-trailed changes to the International Maritime Organisation’s marine fuel regulations due in 2020 are another big issue for some refiners as they seek to find outlets for unwanted high sulphur fuel oil. By the end of the year, all industry players, upstream and downstream, may feel as if they have run a marathon.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
|
|
|
Showing 1521 to 1525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
|
| |
| |
|
