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, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
|
|
|
Showing 1321 to 1325 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- The University of Queensland
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
|
| |
| |
|
