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, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
|
|
|
Showing 1286 to 1290 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Australian Commodity Traders Exchange
- White Energy Company Limited
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Economic Council, Georgia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- The University of Queensland
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
|
| |
| |
|
