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, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
|
|
|
Showing 1981 to 1985 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
|
| |
| |
|
