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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, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
Wednesday, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
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Showing 2071 to 2075 news of total 6871 |
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- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
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