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Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
 Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude futures also declined on concerns about growing oil output and high crude inventories in the US. ICE Brent ended 6.2% lower at $52.54/b, while NYMEX WTI decreased 7.1% to $49.67/b. The BrentWTI spread widened to $2.86/b, supporting US crude oil exports. Hedge funds liquidated their large net long positions in crude, contributing to the sharp drop in oil prices.
World Economy
The momentum in global economic growth has been improving resulting in an upward revision in the 2017 forecast to now stand at 3.3% from 3.2% previously, while growth for 2016 remains at 3.0%. OECD growth in 2017 remains at 1.9%, with the US and Euro-zone seeing no revisions. Japan’s 2017 growth forecast was revised up to 1.2% from 1.1% previously. China’s 2017 growth was also revised higher to 6.3% from 6.2%, while India’s forecast remains at 7.0%. Russia’s 2017 growth was revised up to 1.2% from 1.0%, while the forecast for Brazil is unchanged at 0.5%.
World Oil Demand
World oil demand growth in 2016 was kept broadly unchanged at 1.38 mb/d, averaging 95.05 mb/d. For 2017, oil demand growth is anticipated to be around 1.27 mb/d, following an upward revision of 10 mb/d to average 96.32 mb/d. The ‘Other Asia’ group – which includes India – is anticipated to lead oil demand growth in 2017, followed by China and OECD Americas. OECD Asia-Pacific is the only region anticipated to see a decline in oil demand in 2017.
World Oil Supply
Non-OPEC oil supply is estimated to have averaged 57.32 mb/d in 2016, representing a contraction of 0.69 mb/d y-o-y following a minor downward revision of 30 tb/d. In 2017, non-OPEC oil supply is projected to grow by 0.58 mb/d, following an upward revision of 176 tb/d due to higher than expected growth in the US and lesser contractions in Colombia and China, to average 57.89 mb/d. The US supply growth forecast was revised up by 0.20 mb/d to stand at 0.54 mb/d. OPEC NGLs and non-conventional oil production is forecast to grow by 0.13 mb/d in 2017, following growth of 0.14 mb/d in 2016. In March, OPEC production decreased by 153 tb/d, according to secondary sources, to average 31.93 mb/d. Product Markets and
Refining Operations
Product markets exhibited a mixed performance in the Atlantic Basin, as the lack of export opportunities for gasoline amid increasing inflows of middle distillates impacted the European market. Meanwhile, stronger domestic gasoline demand in the US ahead of the transition to summer grades lent strong support to refinery margins. In Asia, the lack of arbitrage amid increasing inflows into the region weighed on the market despite the onset of the spring refinery maintenance season.
Tanker Market
The tanker market showed a mixed pattern in March. VLCCs exhibiting an average decline of 23% m-o-m in spot rates on its various trading routes, as the tonnage availability remained abundant. In contrast, Suezmax and Aframax rates increased m-o-m by 13%, and 6%, respectively, mainly due to transit delays in the Turkish Straits, discharge delays in the east, and occasional tightening in tonnage supply. The market experienced higher monthly freight rates for clean tankers on most reported routes.
Stock Movements
Total OECD commercial oil stocks fell in February to 2,987 mb to now stand 268 mb above the latest five years average. Crude and product stocks indicated a surplus of around 227 mb and 41 mb, respectively. In terms of days of forward cover, OECD commercial stocks stood at 64.2 days, some 4.6 days higher than the latest five-year average Balance of Supply and Demand
Demand for OPEC crude in 2016 now stands at 31.7 mb/d, which is 1.9 mb/d higher than the 2015 level. In 2017, demand for OPEC crude is projected at 32.2 mb/d, around 0.6 mb/d higher than the 2016 level.
Source: OPEC
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Thursday, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Parliament of New Zealand
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
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