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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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Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
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Showing 1841 to 1845 news of total 6871 |
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
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