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