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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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Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in ...
Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Saturday, 11 April 20
FAQ: COVID-19 AND CLUB COVER - UK P&I
KNOWLEDGE TO ELEVATE
The Coronavirus (COVID-19) pandemic has generated a significant number of enquiries and questions from Members in recent ...
Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,500,000-1,620,000 Metric Tons (M ...
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Showing 1016 to 1020 news of total 6871 |
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- Mjunction Services Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- VISA Power Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
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