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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, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
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- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- VISA Power Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
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