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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
 This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand. For now, the upward momentum that drove the price of Brent crude oil to $70/bbl has stalled; partly due to investors taking profits, but also as part of the corrections we have seen recently in many markets. Most importantly, the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.
Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
The main factor is US oil production. In just three months to November, crude output increased by a colossal 846 kb/d, and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader. All the indicators that suggest continued fast growth in the US are in perfect alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging. In early 2018, the situation is reminiscent of the first wave of US shale growth that, riding the tide of high oil prices in the early years of this decade, made big gains in terms of market share and eventually in 2014 forced a historic change of policy by leading producers. Today, having cut costs dramatically, US producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth. This is a sobering thought for other producers currently sitting on shut-in production capacity and facing a renewed challenge to their market share. Another sobering thought is that it is not just a matter of production: trade patterns are changing. Recently we read of a shipment of condensate from the US to the UAE. Such a development would have seemed incredible a few years ago, now it looks like the shape of things to come.
The components of the oil market balance are dynamic and a lot can change in the next few months: the deteriorating situation in Venezuela is one obvious candidate, and the apparent buoyancy of the global economy could deliver higher demand growth than we currently anticipate. As a result, prices could be maintained at recent levels even as US production rises. If so, most producers will be happy, but if not, history might be repeating itself.
Source: IEA
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Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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Showing 1601 to 1605 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Economic Council, Georgia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
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