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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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Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
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Showing 1481 to 1485 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
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