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Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and irregular on Jan.13:
380 HSFO – USD/MT – 388.82 (+0.72)
VLSFO – USD/MT – 660.00 (-1.00)
MGO – USD/MT – 702.06 (+0.75)
Meantime, world oil indexes fell on Jan.13 as investors shifted their focus away from easing Mideast tensions to this week’s scheduled signing of an initial U.S.-China trade deal.
Brent for March settlement declined by $0.78 to $64.20 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February fell by $0.96 to $58.08 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.12 to WTI. Gasoil for February delivery lost $16.75.
Today morning global oil indexes do not have any firm trend.
It is expected that the U.S. and China agreement is already largely discounted in the price level, and is unlikely to provide a strong boost to oil prices. A U.S.-China trade deal is due to be signed in Washington on Jan.15. The Trump administration has invited at least 200 people to a ceremony for the signing, but the two nations have not yet finalised details of what will be signed.
This year, Chinese crude oil demand growth could be just half of the estimated growth for 2019, and the lowest growth pace since the financial crisis in 2008. Apparent demand for oil in China—calculated by adding domestic production to net imports and changes to inventories—is set to increase by just 2.4 percent in 2020, less than half the 5.2-percent growth estimated for 2019. the impact of the U.S.-China trade war will continue to be felt in the Chinese economy, whose growth will linger at 6 percent.
Last week, the U.S. House of Representatives voted to curb U.S. President Donald Trump’s power to strike Iran. Meanwhile, in comments to Fox News, Vice President Mike Pence said the Islamic Republic has asked militias in the Middle East not to carry out attacks against U.S. interests. The situation in Iran remained volatile, however, as its citizens protested after the government admitted on Jan.11 that it had mistakenly show down a Ukrainian passenger jet, killing all 176 people on board. Iran’s government said it was forming a working group to probe the crash and compensate victims.
OPEC not only continued to cut its crude oil production in December 2019, but it also managed to reach its deeper-cut target for Q1 2020 a month earlier than planned. As in all previous months, Saudi Arabia overcomplied significantly with its share of the cuts, helping the cartel achieve the new quota effective January a month early (Saudi Arabia’s December oil production was 9.82 million bpd: a way below the December quota of 10.3 million bpd. The Saudis were still compensating for rogue OPEC members Iraq and Nigeria, which, despite cutting their respective production, were still not complying with their December quotas. OPEC’s total crude oil production stood at 29.55 million bpd in December, down by 100,000 bpd compared to November.
Rystad Energy continues to see a downward risk to prices, with further pressure on OPEC to implement even deeper production cuts in order to keep Brent oil prices around $60 per barrel through 2020. Oil prices still react dramatically to news of tensions in the Persian Gulf, although less dramatically now than they would have before the US shale revolution. The importance of the region for oil markets is obvious, given that seven Gulf countries alone – Saudi Arabia, Iraq, UAE, Kuwait, Iran, Oman and Qatar – produced around 24 million bpd of crude oil in December 2019. Rystad Energy forecasts that the ‘call’ on OPEC will average about 28.3 million bpd during the final nine months of 2020. By comparison, OPECs actual production in December 2019 was 29.6 million bpd, and the cartel’s new implied production target for the first quarter of 2020 is 29.2 million bpd.
The Chinese Maritime Safety Administration (MSA) has rooted out two cases of ships using fuel that did not comply with the new IMO 2020 regulations. In statement issued on 10 January, the Standard Club revealed that it had received reports about the incidents. In one case, the ship was under a Port State Control inspection in Qingdao when the MSA verified the use of fuel oil with a sulphur content of .6777% mm. The MSA also found that a ship berthed in Xiamen has been burning non-compliant fuel. The ship had been at berth nearly six days after changing over to compliant fuel – and it is likely that previous high sulphur fuel residue remained in the engine fuel system resulting in emissions over the China ECA limit. It is ‘not clear yet whether the MSA will fine the ships for the IMO 2020 violations.
The International Energy Agency (IEA) said, by 2040, India’s oil consumption is set to increase at the fastest pace than any major economy in the world as the country is becoming increasingly influential in global energy markets. Currently, India is the world’s third largest consumer of oil, the fourth largest oil refiner, and a net exporter of refined products. India’s oil demand growth rate is expected to surpass the growth pace of China in the middle of the 2020s, making India a very attractive market for refinery investment. Besides, India’s oil import dependency is set to rise significantly in coming decades, from an already high dependency of over 80 percent in 2018.
We expect bunker prices may go down today in a range of minus 3-6 USD for IFO and minus 9-15 USD for MGO.
Source: MABUX
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Saturday, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- PTC India Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Parliament of New Zealand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
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