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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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Tuesday, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
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Showing 1901 to 1905 news of total 6871 |
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- Indonesian Coal Mining Association
- VISA Power Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
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