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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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Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
Thursday, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
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Showing 1876 to 1880 news of total 6871 |
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- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
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