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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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- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
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