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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, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
Monday, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
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Showing 1921 to 1925 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
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