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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, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
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Showing 1996 to 2000 news of total 6871 |
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- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
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