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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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Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
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Showing 2091 to 2095 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Planning Commission, India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
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