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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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Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
Monday, 04 November 19
COAL INDIA'S OCTOBER PRODUCTION MAY FALL 20% - PTI
Coal India’s production in October is likely to be 19-20 per cent lower at about 40 million tonne, as compared to 49.77 million tonne produce ...
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- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- The University of Queensland
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
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