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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, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1936 to 1940 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
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