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, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
Thursday, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
|
|
|
Showing 2121 to 2125 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Thiess Contractors Indonesia
|
| |
| |
|
