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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, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- Cement Manufacturers Association - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
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