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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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Friday, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Friday, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
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Showing 1986 to 1990 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
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