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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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Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
Thursday, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
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Showing 1971 to 1975 news of total 6871 |
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- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
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