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, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
|
|
|
Showing 2026 to 2030 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
|
| |
| |
|
