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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, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
Thursday, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
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Showing 1941 to 1945 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
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