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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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Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
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