We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
 Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by 640 kb/d y-o-y in 3Q19, the biggest contributor to global growth. In 4Q19, we expect further acceleration in global growth to 1.9 mb/d, supported by a comparison with a weak 4Q18, lower y-o-y prices and robust US petrochemical demand. Our global growth forecasts for 2019 and 2020 are unchanged, at 1 mb/d and 1.2 mb/d, respectively.
Global oil supply rose 1.5 mb/d in October as Saudi Arabian production returned to normal and on increases from Norway, Canada and the US. OPEC crude oil production was 29.9 mb/d. At 101 mb/d, world oil supply was 1.2 mb/d below year-ago levels with OPEC down 2.5 mb/d. Non-OPEC output growth is set to increase from 1.8 mb/d this year to 2.3 mb/d in 2020. The call on OPEC crude in 2020 is estimated at 28.9 mb/d, 1 mb/d below current production.
Sluggish refining activity in the first three quarters of 2019 contributed to a 0.3 mb/d decline in crude oil demand y-o-y. For 2019 as whole, crude demand is likely to decline for the first time since 2009, albeit by only 90 kb/d. This partly explains the relative weakness of crude prices for most of 2019. Throughput growth is expected to resume in 4Q19 and continue through 2020.
After increasing for five consecutive months, OECD commercial stocks drew 38.9 mb in September to 2 944 mb. They were 21.5 mb above the five-year average and covered 60.7 days of forward demand, one day below the average. Preliminary data for October showed total stocks falling in the US and Europe, while inventories gained in Japan. Floating storage of crude oil fell 6 mb in October to 64.1 mb. The number of Iranian VLCCs used for storage increased by 1 to 27.
ICE Brent futures prices were boosted by positive news on the US-China trade talks and reached $62/bbl in late October. Oil markets are showing increasing signs of transitioning to the new IMO regulations and HSFO cracks collapsed to ten-year lows. Record high freight rates supported the price of crudes with shorter delivery times to Asia.
Pausing to reflect
The IEA’s World Energy Outlook 2019 published this week highlights the increasing disparity between the calm oil market of today and heightened geopolitical tensions. The calmness is supported by a well-supplied market and high inventories. This may continue into 2020 because non-OPEC countries will grow their production by 2.3 mb/d. The US will lead the way but there will also be significant growth from Brazil, Norway and barrels from a new producer, Guyana.
Global refinery activity is expected to rebound sharply in 2020, after a pause in growth this year. While our oil demand growth estimate for 2019 is essentially unchanged at 1 mb/d, the volume of crude oil used by refiners and for direct burn in power generation declined by 300 kb/d through 3Q19. Even after a seasonal surge in refinery runs in 4Q19, crude oil demand for 2019 as a whole is still expected to decline by 90 kb/d, the first drop since 2009. This reflects the cyclical nature of refining that overproduces in some years and then slows down to clear product stock overhang.
A ramp up in refining activity in 2020 sets the stage for a hopefully smooth implementation in January of the International Maritime Organisation’s new bunker fuel regulations. Ports, ship owners and refiners have stepped up their preparations. Major bunker hubs such as Fujairah, Rotterdam and Singapore are reported to have large volumes of compliant fuel available. In the case of Singapore, one of the world’s two Ultra Large Crude Carriers is being used to store low sulphur fuel oil (LSFO) and marine gasoil offshore. Meanwhile, the price of high sulphur fuel oil (HSFO) is nose-diving with cracks in Rotterdam falling under -$30/bbl, the lowest in over 10 years. The LSFO-HSFO spread in North West Europe blew out to almost $30/bbl in late October from just under $3/bbl last year. Nevertheless, compliant supplies may not be available in sufficient quantities in smaller ports and for smaller ships, perhaps creating some dislocations.
For 2020, our estimate for oil demand growth is unchanged at 1.2 mb/d, based partly on the International Monetary Fund’s expectation of 3.4% GDP growth. However, the health of the global economy remains uncertain in spite of recent positive news about the US-China trade dispute. This year, we are seeing a big difference in demand growth in the two biggest oil markets. In the US, there has been almost no growth in the first three quarters of 2019, while China has grown by 0.6 mb/d on average. Moving into 2020, US growth is expected to pick up to 190 kb/d while China slows to 375 kb/d.
The hefty supply cushion that is likely to build up during the first half of next year will offer cold comfort to OPEC+ ministers gathering in Vienna at the start of next month. However, a continuously well-supplied market will lend support to a fragile global economy.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 12 April 19
U.S : MORE THAN 7 GW OF COAL-FIRED GENERATION IS SCHEDULED TO RETIRE BY THE END OF 2020 - EIA
EIA estimates that U.S. coal production decreased by 19 million short tons (MMst) (2%) in 2018, totaling 756 MMst.
EIA also expects ...
Friday, 12 April 19
GLENCORE WINS $520 MILLION DEAL TO SELL COAL TO MEXICO - REUTERS
Global trader Glencore has won contracts worth around $520 million to supply 4.94 million tonnes of coal to Mexico, state-run power utility the Fed ...
Thursday, 11 April 19
AUSTRALIAN COAL IN THE FRONTLINE OF CHINA'S SUPPLY GLUT - AUSTRALIAN FINANCIAL REVIEW
Australian coal will be hardest hit as China cuts foreign imports of its key energy source to tackle oversupply, and implements policies favouring ...
Wednesday, 10 April 19
COALTRANS ASIA - TAKE PART IN THE LARGEST COAL EVENT IN THE WORLD!
Take part in the largest coal event in the world!
Coaltrans Asia is back this June bringing together the entire international coal s ...
Wednesday, 10 April 19
KOSPO INVITED BIDS FOR 160K MT OF MIN. 3700 NCV COAL FOR JUNE LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 160,000 MT of min. 3,800 Kcal/kg ~max.4,100 ...
|
|
|
Showing 1421 to 1425 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Posco Energy - South Korea
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
|
| |
| |
|
