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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, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
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