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Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
 Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s outcome is a psychological blow for the market, as the steep plunge in oil prices shows.
“And the market is now facing the spectre of unrestrained production once the current OPEC+ agreement expires in March.
“However, we do not think Saudi Arabia will push hard to lift their output in the northern hemisphere spring.
“Given weak demand and the likelihood this weakness will persist into the second quarter, it will be hard for any producer to increase their output sharply once the original production deal expires at the end of this month.”
Demand risks
She added: “One factor to bear in mind is that the plunge in demand we saw in Q1 was created by circumstances in China. The country’s coronavirus (Covid-19) containment measures have been far more stringent than those imposed anywhere else, and are not likely to be copied elsewhere.
“The lack of a production deal carries risk. This would become apparent if global economic growth weakens and oil demand continues to contract more sharply than expected thanks to the double whammy of coronavirus containment measures and falling GDP.”
Hittle said: “Our current projection sees global liquids demand fall by 2.7 million b/d year-on-year in the first quarter of 2020, the first year-on-year decline on a quarterly basis since Q2 2009.
“It is the most severe decline since Q4 2008, the height of the 2008-2009 global economic crisis, which saw demand tumble by 2.8 million b/d year-on-year.”
Hittle said: “If the impact the coronavirus has had on global oil demand is sustained, then by the second half of the year we’d expect to see weaker GDP. This will have a far greater impact on oil demand than just temporary reductions in jet fuel and gasoline demand.
“A longer, sustained outbreak of coronavirus threatens to hit oil demand with a double whammy: already weak demand will soften further because of containment measures, and this will weaken GDP.”
What next?
What does this mean for OPEC and OPEC+? It would mean that the group would likely need to monitor economic indicators closely. It may even mean that they could be forced to call an emergency meeting during the second quarter.
She added: “A sustained bout of low oil prices will further reduce cash flow and investment into the US oil patch, causing further hits to Lower 48 production growth later this year. It takes at least six to nine months for reductions in spend to lead to lower oil production in the US Lower 48.
“In that time, their access to capital may be limited and their free cash flow badly hit.
“The only silver lining in a very dark cloud is for refining – the sector will be hit hard by weak demand, but it is at least saved from tightening crude differentials associated with a major cut in OPEC supplies.”
Source: Wood Mackenzie
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Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
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- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
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