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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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Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
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Showing 1716 to 1720 news of total 6871 |
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- Sical Logistics Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
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