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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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Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
Friday, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
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- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Cement Manufacturers Association - India
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