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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, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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Showing 2041 to 2045 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
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