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Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
 Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the highest value in more than two-and-a-half years, with a year-to-date average of $50.68/b. Crude futures also reached levels not seen since mid-2015. ICE Brent ended $2.13 higher at $57.65/b, while NYMEX WTI increased $1.72, reaching $51.59/b, keeping the Brent-WTI spread above $6/b. Prices have been supported by rising global demand data and expectations that major producing nations will extend a deal to adjust output and bring the oil market to a balance. Hedge funds raised net long positions in NYMEX WTI and ICE Brent futures and options by 29,456 and 21,592 contracts, respectively, to 281,244 and 530,237 lots. Brent and Dubai remained in backwardation, while the WTI contango eased. Sweet/sour differentials narrowed in Asia and Europe, but widened on the US Gulf Coast.
World Economy
The global economic growth dynamic has continued its momentum, with the forecast for 2017 revised up to 3.7%, from 3.6% in last month’s report. Similarly, the 2018 forecast has been adjusted higher as well to stand at 3.7%, compared to 3.5% in the previous month. Particularly OECD economic growth in 2017 was better than expected so far. The OECD is seen growing by upwardly revised 2.3% in 2017 and 2.2% in 2018. Good momentum – and a potential tax reform – in the US, the ongoing dynamic in the Euro-zone and to some extent in Japan, solid growth in China and India and an improving situation in Russia and Brazil are supporting the growth trend in the short-term.
World Oil Demand
World oil demand growth is expected to rise by 1.53 mb/d in 2017 after an upward adjustment of 74 tb/d to account for the better-than-expected performance of China in 3Q17. In 2018, world oil demand is foreseen reaching 1.51 mb/d, around 130 tb/d higher than in the previous assessment.
World Oil Supply
Non-OPEC oil supply is now projected to grow by 0.65 mb/d y-o-y in 2017, representing a downward revision of 0.02 mb/d from last month’s report. For 2018, growth in non-OPEC oil supply has also been revised down by 0.07 mb/d to stand at 0.87 mb/d. OPEC NGLs and non-conventional liquids are expected to grow by 0.18 mb/d in 2018, following an increase of 0.17 mb/d in 2017. In October 2017, OPEC crude oil production decreased by 151 tb/d, according to secondary sources, to average 32.59 mb/d.
Product Markets and Refining Operations
Product markets in the Atlantic Basin weakened in October due to seasonally-lower gasoline demand following the end of US driving season. Nonetheless, US refining margins have exhibited some improvement y-o-y on the back of firm product demand and amid low stock levels. In Europe, solid middle-of-the-barrel demand offset weakness at the top and bottom. Product markets in Asia also weakened slightly, but remained at healthy levels, supported by the onset of refinery maintenance.
Tanker Market
Sentiment in the dirty tanker market generally strengthened in October, as freight rates for different classes showed improvements on most major trading routes. Average dirty tanker spot freight rates rose 16% compared to the previous month, on the back of improved seasonal tonnage demand, as well as port and weather delays, among other factors. Despite healthy gains in October, the shipping market remains in surplus, capping further increases in spot freight rates. Meanwhile, clean tanker freight rates experienced a relative decline, although remaining above the levels of the same month last year.
Stock Movements
Total OECD commercial oil stocks fell in September to stand at 2,985 mb. At this level, OECD commercial oil stocks are 154 mb above the latest five-year average. Crude and products stocks indicated a surplus of around 129 mb and 25 mb, respectively, above the seasonal norm. In terms of days of forward cover, OECD commercial stocks stood at 62.3 days in September, some 1.9 days higher than the latest five-year average.
Balance of Supply and Demand
Based on the current global oil supply/demand balance, OPEC crude in 2017 is estimated at 33.0 mb/d, around 0.71 mb/d higher than in 2016. OPEC crude in 2018 is estimated at 33.4 mb/d, about 0.46 mb/d higher than in 2017.
Source: OPEC
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Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Australian Coal Association
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