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 $70/bbl for Brent, are less comfortable for consumers than they were at the start of the year and the IEA has regularly warned of the dangers of prices rising even higher. Only time will tell if our current demand forecast proves accurate, but the risks are currently to the downside.
When the first Vienna Agreement to cut oil production was made in 2017, progress was measured by total OECD stocks falling to the five-year average level. The second Agreement is underway, and data for February show that stocks are above the average by 16 mb. However, in terms of days of forward demand cover, which is a more relevant assessment, they are below it, and have been for some time. Incidentally, it is worth mentioning middle distillate stocks, particularly in light of January’s implementation of new International Maritime Organisation fuel specifications. If half the increase in marine gasoil demand resulting from the regulations were in OECD countries, about 540 kb/d, current middle distillate stocks would represent 29.3 days of forward cover, about 3.5 days below the average.
The oil market shows signs of tightening as we move into 2Q19, but we see mixed signals in terms of the outlook for demand and whether stock levels are yet “normal”.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
|
|
|
Showing 1536 to 1540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
|
| |
| |
|
