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Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
 Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing some support to product crack spreads and refining margins. With most refineries now back online in all main regions, refinery intakes have risen steadily, to stand some 1.0 mb/d higher in September compared to the same month last year.
As a result of new refining capacity over the last year, refinery runs during winter are likely to reach new record highs, leading to potentially higher supply in the product markets. At the same time, economic headwinds pointing to a slowdown in manufacturing in the OECD may result in a possible decline in consumption of heavier fuels, weighing on the outlook for product markets over the winter season, while increased competition from ethane and LPG may also bite into demand for products including naphtha and transport fuels. In the US, gasoil consumption is expected to receive support from the manufacturing, construction and freight sectors.
Moreover, a seasonal pick up in heating oil demand this winter is expected, despite increasing substitution by natural gas. Jet fuel markets should also remain supported by an uptick in travel activities, particularly in the holiday season. In contrast, the seasonal decline in gasoline demand in the winter months will once again weigh on prices and ultimately refining economics (Graph 1). This may result in higher gasoline exports in 4Q19 to prevent strong inventory builds and to keep gasoline prices stable. Naphtha crack spreads will also come under pressure and suffer losses as strong LPG output, and lower LPG prices in the US continues to compete with naphtha.
US oil demand growth by main petroleum products, mb, y-o-y change In Europe, the slowdown in transportation fuel demand will continue representing a challenge to product markets. Despite a slight pick-up in gasoline consumption in 1H19, mainly in France, unfavourable economic fundamentals have dampened demand in Germany. Moreover, a mild pick up in gasoline powered vehicle sales observed in France, Italy and Spain has been offset by a decline in overall car sales. The pressure in Europe’s product markets could be further exacerbated by new cracking and other upgrading projects in Russia and Belarus, which is projected to increase regional transport fuel production by the end of 2019.
Furthermore, data reflects a declining trend in product demand in the fourth quarter, particularly for naphtha and residual fuel. In Asia, gasoil markets will remain supported by industrial and transportation demand. However, product balances will most likely soften compared with the previous year, once all refineries restore their operation activities in 4Q19, resulting in excess product supply, particularly for gasoline. Concerning the IMO 2020, a combination of declining heavy crude availability, increased refinery conversion capacity, growing appetite for heavy crude, and stricter sulphur limits on marine bunker fuel are likely to lead to rising prices for low sulphur fuel oil (LSFO). At the same time, the declining availability of high sulphur fuel oil (HSFO) could also hold up prices for that product to some degree.
Together with a mismatch in terms of quality between available and required crude slates for refinery intake, this could provide limited support to processing rates as refineries will have to resort to higher intakes to boost fuel oil or compliant marine fuel production. Graph 2: OECD Europe oil demand growth by main petroleum products, mb, y-o-y change Looking ahead, factors such as the onset of the winter season, healthy demand for middle distillates in Asia, and preparations for IMO should support middle-to-heavy product markets in the coming months. At the same time, uncertainties regarding the global economic outlook, declining car sales and fuel substitution programmes in Europe, and higher products supply from Asia could limit the upward trend in the product markets this winter.
Source: OPEC
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Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
...
Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
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Showing 1336 to 1340 news of total 6871 |
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- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- White Energy Company Limited
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
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