We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Intermediate crude oil, the U.S. benchmark, fell by more than 10 percent Wednesday to near $24 a barrel, a level last seen in April 2002.
“Oil prices can go negative,” wrote Paul Sankey, managing director at Mizuho Securities.
The COVID-19 pandemic has brought the U.S. and global economy to a standstill by prompting “shelter in place” orders, social distancing between people and the cancellation of non-essential travel. The sharp slowdown in economic activity has curtailed the need for oil.
If that weren’t enough, Saudi Arabia recently slashed oil prices and raised output after Russia refused to join OPEC in deepening production cuts.
Oil is a 100 million barrel-per-day market, but Sankey says it’s possible that the economic fallout from the pandemic could zap demand, creating a 20 million barrel-per-day surplus.
He says the “physical reality” of the market is that oil is pumped out of the ground and has to be consumed or stored. When the cost of storage goes high enough — or space runs out — companies might pay customers to take it.
For now, President Trump has ordered the Department of Energy to take advantage of low prices by stepping into the market and buying oil for the Strategic Petroleum Reserve.
The reserve can build at 2 million barrels per day, meaning that it has four months until it’s at capacity, Sankey said.
By then, he added, high-cost oil from the Bakken shale formation in the U.S. or bitumen from the Canadian oil sands, “prices negatively because it exceeds needs” and requires storage, Sankey wrote. “Negative prices are simply a higher cost of storage than market.”
Sankey isn’t the only one on Wall Street who is sounding the alarm about the coming flood of oil.
Excess supply from OPEC and Russia, coupled with crumbling demand “are leading to concerns about a surplus that could overwhelm global storage,” wrote Francisco Blanch, a commodity strategist at Bank of America.
He warns the demand destruction caused by COVID-19 and the price war between Saudi Arabia and Russia could cause inventories to swell by 900 million barrels in the second quarter alone. He estimates the world currently has about 1.5 billion barrels of available storage.
Blanch’s worst-case scenario isn’t as dire as Sankey’s.
“In a severe scenario, if the market struggles to find a home for surplus barrels, then oil prices might have to trade down into the teens,” he wrote.
Source: Fox Business
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
|
|
|
Showing 1061 to 1065 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- White Energy Company Limited
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- PTC India Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
|
| |
| |
|
