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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, 20 March 19
COAL EXPORT FEARS RESURFACE AS RESTRICTIONS HIT MORE CHINESE PORTS AND AUSTRALIAN PRICES COP A 'BELTING' - ABC
Australian thermal coal exports to China are under increasing pressure, with indications import restrictions are spreading to other key ports.
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Monday, 18 March 19
A 56,000DWT SHIP FIXED DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY CHINA, AT $10,000 - BALTIC BRIEFING
Capesize
The Baltic Capesize market shrugged off its recent negative sentiment to post daily incremental improvements over the last week. Pacif ...
Saturday, 16 March 19
AUSTRALIAN COAL STILL FACING CHINESE DELAY - AAP
Australian coal exports to China are still facing delays, with protectionism and environmental checks blamed for the slowdown.
Coal ...
Thursday, 14 March 19
SUPRAMAX: INDO COAL CARGOES GETTING FIXED AT AROUND US$ 12000 TO CHINA - FEARNLEYS
Capesize
Average daily earning still well below operating costs, and owners keep bleeding - but nevertheless finally some bright spots for the ...
Monday, 11 March 19
SUPRAMAX: A 61,000 DWT VESSEL WAS BOOKED SINGAPORE FOR A TRIP VIA INDONESIA TO CHINA AT $10,500 - BALTIC BRIEFING
Capesize
A faint glimmer of hope with the suggestion the market may have finally bottomed out, with owners attempting to resist further cuts in ...
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Showing 1446 to 1450 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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