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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, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
Wednesday, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
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Showing 1976 to 1980 news of total 6871 |
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- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Planning Commission, India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
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