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, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
|
|
|
Showing 1811 to 1815 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Planning Commission, India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
|
| |
| |
|
