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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, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
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Showing 1826 to 1830 news of total 6871 |
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- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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