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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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Showing 2021 to 2025 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Romanian Commodities Exchange
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
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