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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
 Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow any further price increases.
We assume Brent and WTI will average USD42 a barrel in 2016, up from our USD35/bbl base case in February. The increase follows evidence that the market will come into balance in the second half of 2016, which has already been reflected in a year-to-date average price of USD41/40 for Brent/WTI.
However, we do not believe that the rapid price recovery seen in the first half of 2016 will continue. The sub-USD30 prices at the start of the year approached cash costs for many producers and were unsustainable in all but the very short term. Prices in the USD40-USD50 range allow most producers to break even on a cash basis, if not to cover sunk costs.
We believe that record high inventories - OECD stocks are still more than 10% higher than normal - and market expectations that US shale production will begin to rebound at prices above USD50, will keep prices below that level until a supply deficit has eroded some of the inventory overhang.
We have therefore left our 2017 and 2018 price assumptions unchanged at USD45 and USD55 respectively. Our long-term expectations for both Brent and WTI are unchanged at USD65, reflecting our view on the long-run marginal cost of supply.
Our natural gas expectations have also changed, with price assumptions for US Henry Hub rising and UK National Balancing Point (NBP) falling. In the US, the market has begun to work through the excess inventory build-up associated with last year's El Nino winter. Slower production growth in key shale plays has also helped. For NBP, increased US gas exports have contributed to a medium-term LNG glut, which we expect to put pressure on international spot prices.
Our Henry Hub price assumptions are USD2.35/mcf in 2016, rising to USD2.75 in 2017, USD3.00 in 2018 and USD3.25 in the long term. For NBP we assume a price of USD5.00/mcf for 2016, USD5.50 in 2017, USD6.00 in 2018 and USD6.50 in the long term.
Source: Fitch Ratings
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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- White Energy Company Limited
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