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.
|
|
Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
|
|
|
Showing 1356 to 1360 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhatia International Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Australian Coal Association
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
|
| |
| |
|
