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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, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
Wednesday, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
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Showing 1886 to 1890 news of total 6871 |
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- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- ASAPP Information Group - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
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