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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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Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
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Showing 1836 to 1840 news of total 6871 |
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- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Australian Coal Association
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
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