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