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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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Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
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- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
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