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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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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
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