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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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Tuesday, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
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Showing 1706 to 1710 news of total 6871 |
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
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