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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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- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- The University of Queensland
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
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