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.
|
|
Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
|
|
|
Showing 926 to 930 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- The University of Queensland
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
|
| |
| |
|
