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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
 This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand. For now, the upward momentum that drove the price of Brent crude oil to $70/bbl has stalled; partly due to investors taking profits, but also as part of the corrections we have seen recently in many markets. Most importantly, the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.
Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
The main factor is US oil production. In just three months to November, crude output increased by a colossal 846 kb/d, and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader. All the indicators that suggest continued fast growth in the US are in perfect alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging. In early 2018, the situation is reminiscent of the first wave of US shale growth that, riding the tide of high oil prices in the early years of this decade, made big gains in terms of market share and eventually in 2014 forced a historic change of policy by leading producers. Today, having cut costs dramatically, US producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth. This is a sobering thought for other producers currently sitting on shut-in production capacity and facing a renewed challenge to their market share. Another sobering thought is that it is not just a matter of production: trade patterns are changing. Recently we read of a shipment of condensate from the US to the UAE. Such a development would have seemed incredible a few years ago, now it looks like the shape of things to come.
The components of the oil market balance are dynamic and a lot can change in the next few months: the deteriorating situation in Venezuela is one obvious candidate, and the apparent buoyancy of the global economy could deliver higher demand growth than we currently anticipate. As a result, prices could be maintained at recent levels even as US production rises. If so, most producers will be happy, but if not, history might be repeating itself.
Source: IEA
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Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
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Showing 1816 to 1820 news of total 6871 |
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- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
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