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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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- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
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