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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, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
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Showing 1346 to 1350 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- PTC India Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
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