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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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Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
Thursday, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
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Showing 1846 to 1850 news of total 6871 |
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- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
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