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.
|
|
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
|
|
|
Showing 2066 to 2070 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Planning Commission, India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
|
| |
| |
|
