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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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Showing 2021 to 2025 news of total 6871 |
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- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Minerals Council of Australia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
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