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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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Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
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