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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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Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
Monday, 09 September 19
ULTRAMAX: ASIA A 58,000-TONNER FIXED DELIVERY FUZHOU, VIA INDONESIA, REDELIVERY CHINA, AT $12,800
Capesize
0px The market reached new heights this week as the 5TC topped $38,014, a level not seen in the sector since 2013. Fridays 5TC closed ...
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Showing 1341 to 1345 news of total 6871 |
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
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