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Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
 Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but also caused investment growth to decelerate. On the positive side, global trade slowdown has likely bottomed out, and now the negative trend in industrial production seen in 2019 is expected to reverse in 2020. As a result, global economic growth is forecast at 3.0% for both 2019 and 2020.
Recent progress on various trade agreements such as the conclusion of the Regional Comprehensive Economic Partnership of Asian-Pacific nations may provide the base to re-energize the momentum in global trade, although challenges remain, particularly regarding ongoing trade talks between the US and its trade partners, particularly China.
While global monetary policies continue to be accommodative, high debt levels in many major economies represent some risk. Additional challenges are posed by fiscal issues in few EU Member Countries, Brexit, and Japan’s ongoing slowdown. Fiscal imbalances in emerging and developing economies may also have a negative effect on global economic growth, while recent social unrest in some economies may add more downward pressure.
Global oil demand is projected to rise by 0.98 mb/d in 2019, mainly due to cooling macro-economic indicators in major economies. Oil demand in the OECD is projected to grow by a marginal 0.02 mb/d in 2019, due to slowerthan-expected demand in the Americas and Asia Pacific. Weaker-than-expected diesel requirements in the US amid the slower pace in manufacturing and construction activity have limited demand growth in the current year. In Asia Pacific, significant petrochemical plant turnarounds reduced demand for petrochemical feedstock in 1H19. In non-OECD oil demand in 2019 is anticipated to rise by 0.96 mb/d, primarily as a result of slower-than-expected demand in India due to reduced industrial and transportation fuel requirements in 2Q19 and 3Q19. In 2020, global oil demand is expected to grow by 1.08 mb/d, with the OECD growing by 0.07 mb/d. OECD Americas is anticipated to be the only OECD region in positive demand growth territory next year, supported mainly by petrochemical capacity additions. In the non-OECD region, oil demand growth is projected to be around 1.01 mb/d, with growth projected to improve in Other Asia, Latin America and the Middle East. Indeed, the transportation and petrochemical sectors are expected to continue leading oil demand growth in 2020.
On the supply side, non-OPEC oil supply growth in 2019 has been lower than initial market expectations, now standing at 1.82 mb/d compared to the initial projection of 2.10 mb/d in July 2018. Weaker-thanexpected growth in Canada, Brazil, Norway, Kazakhstan, China and Russia has been the key contributor to the downward revision, despite the betterthan-expected performance of US liquids supply. US oil output is leading this growth with 1.62 mb/d in 2019. In 2020, non-OPEC supply is expected to see a continued slowdown in growth on the back of decreased investment and lower drilling activities in US tight oil. Non-OPEC supply is now forecast to grow by 2.17 mb/d in 2020, representing a downward revision of around 0.27 mb/d from initial forecasts in July 2019 on the back of downward revisions in US oil supply. Nevertheless, Graph 2: World oil demand and non-OPEC supply revisions from initial forecast in 2019 and 2020 incremental production from the US tight plays, particularly in the Permian Basin, as well as from offshore fields in Norway, Brazil, Australia and possibly Guyana, will contribute to the non-OPEC supply in 2020.
Evidently, significant and successful effort of countries participating in the Declaration of Cooperation (DoC) have helped the global oil market to remain relatively balanced in 2019. Going forward, countries participating in the DoC reaffirmed their continuing commitment to oil market stability as they have decided this month to adjust production further by another 500 tb/d, adding to the previous adjustment of 1.2 mb/d, and now totalling to 1.7 mb/d as of January 2020. This is to stabilize the market in the interests of both consumers and producers, as well as the wellbeing of the global economy.
Source: OPEC
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Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
Wednesday, 08 January 20
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Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Economic Council, Georgia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
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