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.
|
|
Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
|
|
|
Showing 1936 to 1940 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
|
| |
| |
|
