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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, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
Capesize
The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
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- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- White Energy Company Limited
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
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