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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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Monday, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
Monday, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
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Showing 1991 to 1995 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
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