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.
|
|
Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
|
|
|
Showing 1031 to 1035 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
|
| |
| |
|
