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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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Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
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Showing 1391 to 1395 news of total 6871 |
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- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
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