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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, 22 November 17
THERMAL COAL WAS FLAT AMID CONCERNS OF FURTHER GOVERNMENT INTERVENTION IN CHINA, SAYS DANIEL HYNES
Coal prices were mixed. Thermal coal was flat amid concerns of further government intervention in China, said Daniel Hynes Senior Commodity Strateg ...
Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
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Showing 1871 to 1875 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
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