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, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
|
|
|
Showing 1421 to 1425 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- The University of Queensland
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
|
| |
| |
|
