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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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Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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