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, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
|
|
|
Showing 1481 to 1485 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
|
| |
| |
|
