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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, 08 August 17
COAL SALES DESTINATION IS DOMINATED BY DEVELOPING COUNTRIES IN ASIA - ADARO
COALspot.com: Adaro Energy has produced 13.27 million tonnes of coal during the second quarter of 2017, from the mines PT Adaro Indonesia, PT Semes ...
Tuesday, 08 August 17
KOMIPO INVITES BIDS FOR 5200 AND 5700 NAR COAL FOR Q4 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 420,000 Metric Tons of Bituminous coal ...
Monday, 07 August 17
INDIA'S THERMAL COAL IMPORTS HAVE FALLEN BY 16% YEAR-ON-YEAR IN THE FIRST FIVE MONTHS OF THIS YEAR
COALspot.com: The second quarter of 2017 was characterized by volatility in the coal market driven by policy measures and weather disruptions say A ...
Monday, 07 August 17
BUMA SIGNED $385 MILLION WORTH OF NEW CONTRACT WITH PT PADA IDI
COALspot.com: PT Delta Dunia Makmur Tbk., has announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into min ...
Monday, 07 August 17
THE SHIPPING INDEXES BOUNCE BACK THIS PAST WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ove ...
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Showing 1981 to 1985 news of total 6871 |
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- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- ASAPP Information Group - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
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