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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, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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Showing 1726 to 1730 news of total 6871 |
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- Planning Commission, India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
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