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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
 World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement. However, last few days quotes turned into slight downward movement after US output and export data says Marine Bunker Exchange
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO at the main world hubs) increased in the period of Oct. 26 – Nov. 2:
380 HSFO – up from 332.50 to 349.79 USD/MT (+17.29)
180 HSFO – up from 371.86 to 389.07 USD/MT (+17.21)
MGO – up from 555.64 to 569.57 USD/MT (+13.93)
The Marine Bunker Exchange further said, Prices were turned up by comments of Prince Salman about supporting the extension the production cut agreement. He suggested extending the agreement for another nine months to the end of next year. He also insisted that OPEC needs to continue stabilizing the market. Earlier Saudi Arabia’s energy minister confirmed its determination to end a global supply glut. Russian President Vladimir Putin also said that he doesn’t rule out an extension to the end of 2018. OPEC is expected to discuss extending of the agreement at a meeting in Vienna on Nov. 30. Optimism that OPEC extend its supply cut plan is rising and it made a good support to bunker fuel quotes. Moreover, OPEC’s October output fell by 80,000 barrels per day (bpd) to 32.78 million bpd with a compliance at 92 percent, up from September’s 86 percent. Russia is also seen to cut its output by around 300,000 bpd below October 2016 levels of 11.247 million bpd. As one more step to market re-balancing Saudi Arabia is expected to rise December crude prices for customers in Asia to levels last seen in 2013 or 2014.
The report further noted that, crude oil from northern Iraq, including from the Kurdistan region, stopped flowing from the oil pipeline between Kirkuk and the Turkish Mediterranean port of Ceyhan on Oct.30., despite of the reports that the flows resumed. Oil production in the Kirkuk area continues at the Baba Gurgur, Khabbaz, and Jambour oil fields, but only insofar as to meet demand from local refineries. Over the weekend, Iraqi authorities increased oil exports from the southern Basra region by 200,000 bpd to make up for a shortfall from the northern Kirkuk fields. It also increased its total oil export capacity from its southern ports by 900,000 bpd to 4.6 million bpd a few days ago, after adding a new floating terminal.
The total oil and gas rig count in the United States now stands at 909 rigs, up 352 rigs from the year prior, with the number of oil rigs in the United States increasing by 1 last week. However, U.S. oil production grew by 46,000 barrels a day to 9.55 million barrels a day. At the same time, weekly U.S. crude oil exports rose to an all-time high of 2.13 million barrels per day. That turned prices into downward trend. The ongoing surge in U.S. crude exports comes as the widening spread between WTI and Brent oil prices continued to increase international demand for U.S. crude.
At the same time, Marine Bunker Exchange said, oil inventories fell by 2.4 million barrels last week – to 454.9 million barrels, which the EIA considered to be at the upper half of the average range for this time of year. It was expected a decline of 1.7 million barrels. Supplies at Cushing, Oklahoma, the key delivery point for Nymex crude, rose by 90,000 barrels last week.
The uncertainty surrounding the U.S. sanctions on Iran leads to uncertainty regarding OPEC’s third largest oil producer’s ability to contribute to or maintain oil output. Tehran’s participation in the oil deal has been contingent upon the success of the nuclear deal since January 2016. New sanctions from the U.S. Congress may stop the progress of Iranian oil development.
According to Marine Bunker Exchange note, the geopolitical impact of the Gulf’s economic blockade against Qatar could also have significant geopolitical consequences as it enters into its sixth month with no end in sight. Instead of limiting its ties to Iran, Qatar is strengthening ties with it, which rivals Saudi Arabia politically and economically. Escalating tensions between the Gulf and Qatar will further increase the tension between Iran and Saudi Arabia, impacting the future of Iran as a political player and as a major oil producer.
The cause for the present upward evolution of the fuel indexes is a series of comments from top OPEC and Russian officials last week, pointing to cohesion around another extension of the production cuts. It is clear, that the market is on its way to rebalancing. At the same time U.S. output, that rose by almost 13 percent since mid-2016 to 9.5 million bpd may slow down the process.
Trade data shows that global oil markets have been slightly undersupplied during the past quarters, resulting in inventory drawdowns. We expect bunker prices will continue upward trend next week Marine Bunker Exchange concluded.
* MGO LS
All prices stated in USD / Mton
All time high Brent = $147.50 (July 11, 2008)
All time high Light crude (WTI) = $147.27 (July 11, 2008)
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Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- The University of Queensland
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
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