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.
|
|
Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
|
|
|
Showing 1271 to 1275 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
|
| |
| |
|
