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, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
|
|
|
Showing 1831 to 1835 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
|
| |
| |
|
