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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, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
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Showing 1731 to 1735 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
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