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Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
 Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude futures also declined on concerns about growing oil output and high crude inventories in the US. ICE Brent ended 6.2% lower at $52.54/b, while NYMEX WTI decreased 7.1% to $49.67/b. The BrentWTI spread widened to $2.86/b, supporting US crude oil exports. Hedge funds liquidated their large net long positions in crude, contributing to the sharp drop in oil prices.
World Economy
The momentum in global economic growth has been improving resulting in an upward revision in the 2017 forecast to now stand at 3.3% from 3.2% previously, while growth for 2016 remains at 3.0%. OECD growth in 2017 remains at 1.9%, with the US and Euro-zone seeing no revisions. Japan’s 2017 growth forecast was revised up to 1.2% from 1.1% previously. China’s 2017 growth was also revised higher to 6.3% from 6.2%, while India’s forecast remains at 7.0%. Russia’s 2017 growth was revised up to 1.2% from 1.0%, while the forecast for Brazil is unchanged at 0.5%.
World Oil Demand
World oil demand growth in 2016 was kept broadly unchanged at 1.38 mb/d, averaging 95.05 mb/d. For 2017, oil demand growth is anticipated to be around 1.27 mb/d, following an upward revision of 10 mb/d to average 96.32 mb/d. The ‘Other Asia’ group – which includes India – is anticipated to lead oil demand growth in 2017, followed by China and OECD Americas. OECD Asia-Pacific is the only region anticipated to see a decline in oil demand in 2017.
World Oil Supply
Non-OPEC oil supply is estimated to have averaged 57.32 mb/d in 2016, representing a contraction of 0.69 mb/d y-o-y following a minor downward revision of 30 tb/d. In 2017, non-OPEC oil supply is projected to grow by 0.58 mb/d, following an upward revision of 176 tb/d due to higher than expected growth in the US and lesser contractions in Colombia and China, to average 57.89 mb/d. The US supply growth forecast was revised up by 0.20 mb/d to stand at 0.54 mb/d. OPEC NGLs and non-conventional oil production is forecast to grow by 0.13 mb/d in 2017, following growth of 0.14 mb/d in 2016. In March, OPEC production decreased by 153 tb/d, according to secondary sources, to average 31.93 mb/d. Product Markets and
Refining Operations
Product markets exhibited a mixed performance in the Atlantic Basin, as the lack of export opportunities for gasoline amid increasing inflows of middle distillates impacted the European market. Meanwhile, stronger domestic gasoline demand in the US ahead of the transition to summer grades lent strong support to refinery margins. In Asia, the lack of arbitrage amid increasing inflows into the region weighed on the market despite the onset of the spring refinery maintenance season.
Tanker Market
The tanker market showed a mixed pattern in March. VLCCs exhibiting an average decline of 23% m-o-m in spot rates on its various trading routes, as the tonnage availability remained abundant. In contrast, Suezmax and Aframax rates increased m-o-m by 13%, and 6%, respectively, mainly due to transit delays in the Turkish Straits, discharge delays in the east, and occasional tightening in tonnage supply. The market experienced higher monthly freight rates for clean tankers on most reported routes.
Stock Movements
Total OECD commercial oil stocks fell in February to 2,987 mb to now stand 268 mb above the latest five years average. Crude and product stocks indicated a surplus of around 227 mb and 41 mb, respectively. In terms of days of forward cover, OECD commercial stocks stood at 64.2 days, some 4.6 days higher than the latest five-year average Balance of Supply and Demand
Demand for OPEC crude in 2016 now stands at 31.7 mb/d, which is 1.9 mb/d higher than the 2015 level. In 2017, demand for OPEC crude is projected at 32.2 mb/d, around 0.6 mb/d higher than the 2016 level.
Source: OPEC
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Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
...
Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
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Showing 1646 to 1650 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Planning Commission, India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- The University of Queensland
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