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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, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the st ...
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Showing 2011 to 2015 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Economic Council, Georgia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
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