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.
|
|
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
...
Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
Friday, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
|
|
|
Showing 1646 to 1650 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
|
| |
| |
|
