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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, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
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- Coastal Gujarat Power Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
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