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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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Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
Tuesday, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
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Showing 1931 to 1935 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
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