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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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Tuesday, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
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- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Marubeni Corporation - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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