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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, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
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