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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, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
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Showing 1956 to 1960 news of total 6871 |
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- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Parliament of New Zealand
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Posco Energy - South Korea
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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