We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
 Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil and gas, chemicals, and fertilisers, unless there are wider shipping – or production – disruptions in the region, Fitch Ratings says.
Heightened geopolitical risk, including the recent shipping disruptions, will maintain the oil price premium. However, without material disruptions to actual oil production, or a wider escalation of attacks to more vital oil transport routes in the region, we do not expect a strong upside to our USD80/bbl Brent price assumption for 2024, as there is material OPEC+ spare capacity.
Total oil shipments via the Suez Canal, the SUMED pipeline, and the Bab-el-Mandeb Strait accounted for about 12% of global oil seaborne trade in 1H23, according to EIA. Houthi attacks have primarily been concentrated in the narrow strait of Bab-el-Mandeb. Northbound oil shipments via the Suez Canal and the SUMED pipeline are directed to Europe, mainly from Saudi Arabia and Iraq. Southbound flows are primarily Russian oil exports to China and India following the EU sanctions on Russian oil imports.
BP, Shell, QatarEnergy, and many shippers have halted transit through the Suez Canal, with some shippers re-routing around Africa. This may marginally tighten the oil and gas markets, albeit temporarily, as supply chains need to adjust to the alternative route taking about a fortnight longer, but we do not anticipate any material impact on prices.
With over 5 million barrels per day (MMbpd) of OPEC+ spare capacity as of January 2024, and balanced global oil supply and demand, we expect the global oil market to remain well-supplied in 2024. This will cushion any impact from potentially protracted or escalated disruptions. IEA forecasts global oil demand growth to moderate to 1.2MMbpd in 2024 due to reduced world economic growth and China’s slower oil consumption growth. We expect continued healthy supply growth, supported by non-OPEC producers.
Our TTF gas price assumption for 2024 of USD12/mcf is unchanged. About 8% of global liquefied natural gas (LNG) trade is shipped via the Suez Canal. While LNG accounted for about 42% of EU gas imports in 2023, just under half of LNG imports came from the US, with Qatar accounting for 13%. We do not expect Qatar LNG re-routing around Africa in the short term, nor redirecting of US LNG flows to Europe and Qatar LNG to Asia, even if tensions in the Red Sea continue to affect supply.
Disruptions spreading to the Strait of Hormuz, a key global oil and gas transport route that shipped 20.5 MMbpd of oil in 1H23 (27% of global seaborne oil trade), or the crisis affecting oil and gas production volumes, would create more tangible repercussions for global oil and gas markets, with more sustained price increases.
Market conditions in European chemicals, which are dependent on Asian imports, have already fallen from top-of-the-cycle to below mid-cycle, driven by the slowdown in the global economy and destocking across the chemical supply chain. The sector may be further affected by supply disruptions due to delayed shipments via the Red Sea.
Fertiliser exports through the Red Sea account for about 7% of the global potash market, and around 5% of the world phosphate rock market. There have been few reports of fertiliser vessels being affected by attacks, while fertiliser exporters Israel’s ICL and Jordan’s APC reported normal operations from their Red Sea ports of Eilat and Aqaba, according to CRU. Shipping costs account for about 10% of fertiliser prices, and therefore rising freight rates will add pressure on profitability.
Source: Fitch Ratings
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
|
|
|
Showing 116 to 120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Economic Council, Georgia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
|
| |
| |
|
