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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, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
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Showing 1946 to 1950 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Planning Commission, India
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
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