We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
 Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Following an initial burst of enthusiasm for the deal, scepticism set in, alongside worries about the global economic background. Prices fell by $10/bbl with Brent crude oil bottoming out on 24 December at just above $50/bbl. For the producers, this was unwelcome, but for consumers it provided a nice present for the holidays. In the US Gulf Coast, gasoline prices in early January averaged $1.89/gal versus the summer peak of $2.79/gal and in India, prices are about 14% below the early October peak. Recently, leading producers have restated their commitment to cut output and data show that words were transformed into actions. In December, OPEC production fell by almost 600 kb/d and Saudi Arabia has signalled that, for its part, further significant cutbacks will take place in January and beyond.
The Brent price has moved back above $60/bbl, so the answer to our question posed last month seems to be a qualified yes, at least for now. However, the journey to a balanced market will take time, and is more likely to be a marathon than a sprint. While Saudi Arabia is determined to protect its price aspirations by delivering substantial production cuts, there is less clarity with regard to its Russian partner. Data show that Russia increased crude oil production in December to a new record near 11.5 mb/d and it is unclear when it will cut and by how much. Other non-OPEC countries joining in the output deal saw higher output, including Mexico.
Elsewhere, there are signs that market re-balancing will be gradual. The trajectory of Iran’s production and exports remains important. In December, total exports increased slightly to over 1.3 mb/d. With US waivers allowing Iran’s major customers to buy higher volumes than was previously thought, more oil will remain in the market in the early part of 2019. Venezuela has seen the collapse of its oil industry slow during the second half of 2018 with production falling recently by about 10 kb/d each month rather than by the 40 kb/d we saw earlier in the year. The level of output in the world’s biggest liquids producer, the United States, will once again be a major factor in 2019. We saw incredible and unexpected growth in total liquids production of 2.1 mb/d in 2018. For this year, we have left unchanged for now our forecast for growth of 1.3 mb/d. While the other two giants voluntarily cut output, the US, already the biggest liquids supplier, will reinforce its leadership as the world’s number one crude producer. By the middle of the year, US crude output will probably be more than the capacity of either Saudi Arabia or Russia.
For oil demand, there is a mixed picture. Falling prices in 4Q18 helped consumers and there are signs that trade tensions might be easing. In many developing countries, lower international oil prices coincide with a weaker dollar as the likelihood of higher US interest rates fades for now. However, the mood music in the global economy is not very cheerful. Confidence is weakening in several major economies. In the short term, there is added uncertainty about oil demand due to the onset of the northern hemisphere winter season, with low temperatures seen in the past few days in many places. For now, we retain our view that demand growth in 2018 was 1.3 mb/d, and this year it will be slightly higher at 1.4 mb/d, mainly due to average prices being below year-ago levels.
In the meantime, refiners face a challenging year. Processing capacity will increase by 2.6 mb/d, the biggest growth for four decades, while margins are already pressured by low gasoline cracks due to oversupply and weak demand. The well-trailed changes to the International Maritime Organisation’s marine fuel regulations due in 2020 are another big issue for some refiners as they seek to find outlets for unwanted high sulphur fuel oil. By the end of the year, all industry players, upstream and downstream, may feel as if they have run a marathon.
Source: IEA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 09 June 19
SUPRAMAX: ASIA LOST GROUND; THE INDIAN OCEAN SAW SLOWER ACTIVITY - BALTIC BRIEFING
Capesize
The market continued in an unusually steady ascent last week. With no major news in the market, each day improved on the last, breakin ...
Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
|
|
|
Showing 1391 to 1395 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
|
| |
| |
|
