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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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- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
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