We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
 The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effectiveness of sanctions against Iran and Venezuela. Production by OPEC countries in March was 2.2 mb/d lower than in November and now there is uncertainty concerning Libya. Production by non-OPEC producers in 1Q19 was 0.7 mb/d lower than in 4Q18. This turnaround in supply has contributed to a dramatic increase in prices, with Brent crude rising from $50/bbl at the end of December to more than $70/bbl today.
Tightness in the oil market, however, is not just a supply story. In recent months, the resilience of demand has received less attention than the vicissitudes of production, but it is very important too. Data for 2018 is still incomplete but we can be confident that demand growth was about 1.3 mb/d. As far as 2019 is concerned, amongst the analyst community there is an extraordinarily wide divergence of view as to how strong growth will be. We maintain our forecast of 1.4 mb/d, but accept that there are mixed signals about the health of the global economy, and differing views about the likely level of oil prices.
In terms of real numbers for 2019, although it is still early days the major centres of oil demand growth are performing strongly. In China, the economy seems to be reacting to the government’s stimulus measures with purchasing managers’ indices increasing and export orders recovering, although there are signs that air cargo volumes might be falling. Preliminary oil demand numbers for the January-February period show solid growth of 410 kb/d year-on-year. Elsewhere, demand was strong in the same period, with India growing by 300 kb/d, and the US, which continues to be supported by the petrochemical sector, by 295 kb/d.
Although the main sources of growth are doing well, there are mixed signals from elsewhere. Overall demand in the OECD countries fell by 0.3 mb/d y-o-y in 4Q18, the first such fall for any quarter since the end of 2014, and it is likely to have fallen again in 1Q19 due to weakness in some European economies, with perhaps more to come if there is a disorderly Brexit. There are uncertainties in Argentina and Turkey and signs of only modest demand recovery in the Middle East despite the stimulus provided by rising crude oil prices. Concerns about trade talks linger, and the mood will be influenced by the recent downgrade to global GDP growth by the International Monetary Fund, although it should be noted that the IMF does not expect a recession in the near term. Clearly, oil prices at $70/bbl for Brent, are less comfortable for consumers than they were at the start of the year and the IEA has regularly warned of the dangers of prices rising even higher. Only time will tell if our current demand forecast proves accurate, but the risks are currently to the downside.
When the first Vienna Agreement to cut oil production was made in 2017, progress was measured by total OECD stocks falling to the five-year average level. The second Agreement is underway, and data for February show that stocks are above the average by 16 mb. However, in terms of days of forward demand cover, which is a more relevant assessment, they are below it, and have been for some time. Incidentally, it is worth mentioning middle distillate stocks, particularly in light of January’s implementation of new International Maritime Organisation fuel specifications. If half the increase in marine gasoil demand resulting from the regulations were in OECD countries, about 540 kb/d, current middle distillate stocks would represent 29.3 days of forward cover, about 3.5 days below the average.
The oil market shows signs of tightening as we move into 2Q19, but we see mixed signals in terms of the outlook for demand and whether stock levels are yet “normal”.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
|
|
|
Showing 776 to 780 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
|
| |
| |
|
