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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, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
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Showing 1961 to 1965 news of total 6871 |
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- PowerSource Philippines DevCo
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Planning Commission, India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Wilmar Investment Holdings
- MS Steel International - UAE
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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