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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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Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- The University of Queensland
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
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