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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, 18 May 17
SOUTHEAST ASIA CAN ACCELERATE ACHIEVEMENT OF PARIS AGREEMENT GOALS - WCA
Low emissions coal in Asia reduces more CO2 emissions than renewable investment in Western Europe.
Investing in low emissions coal plants in S ...
Wednesday, 17 May 17
THE CHINESE IMPORTS ARE A BAROMETER FOR VESSEL UTILIZATION - INTERMODAL
According to economic data, China imports increased year-on-year 38% in February, 20% in March – which is approximately US$160-170b - w ...
Monday, 15 May 17
THE PORT OF NEWCASTLE HAS SHIPPED 0.99 PERCENT LESS COAL IN APRIL 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export ports has shipped $AU 1,636.2 ...
Monday, 15 May 17
THE CAPESIZE INDEX ROSE SIGNIFICANTLY THIS PAST WEEK COMPARED TO PREVIOUS WEEK
COALspot.com: The Freight market slightly up this past week, as BDI and Cape shows a positive trend week over week.
The Baltic Exchange, track ...
Friday, 12 May 17
U.S. COAL PRODUCTION DOWN AGAIN WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.3 million short tons ...
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Showing 2046 to 2050 news of total 6871 |
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- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Planning Commission, India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
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