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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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Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
Wednesday, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
...
Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
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Showing 1711 to 1715 news of total 6871 |
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- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
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