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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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Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...
Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- PTC India Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- The University of Queensland
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
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