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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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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
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Showing 1211 to 1215 news of total 6871 |
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- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
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