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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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Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
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Showing 1396 to 1400 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Attock Cement Pakistan Limited
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
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