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Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
 Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the highest value in more than two-and-a-half years, with a year-to-date average of $50.68/b. Crude futures also reached levels not seen since mid-2015. ICE Brent ended $2.13 higher at $57.65/b, while NYMEX WTI increased $1.72, reaching $51.59/b, keeping the Brent-WTI spread above $6/b. Prices have been supported by rising global demand data and expectations that major producing nations will extend a deal to adjust output and bring the oil market to a balance. Hedge funds raised net long positions in NYMEX WTI and ICE Brent futures and options by 29,456 and 21,592 contracts, respectively, to 281,244 and 530,237 lots. Brent and Dubai remained in backwardation, while the WTI contango eased. Sweet/sour differentials narrowed in Asia and Europe, but widened on the US Gulf Coast.
World Economy
The global economic growth dynamic has continued its momentum, with the forecast for 2017 revised up to 3.7%, from 3.6% in last month’s report. Similarly, the 2018 forecast has been adjusted higher as well to stand at 3.7%, compared to 3.5% in the previous month. Particularly OECD economic growth in 2017 was better than expected so far. The OECD is seen growing by upwardly revised 2.3% in 2017 and 2.2% in 2018. Good momentum – and a potential tax reform – in the US, the ongoing dynamic in the Euro-zone and to some extent in Japan, solid growth in China and India and an improving situation in Russia and Brazil are supporting the growth trend in the short-term.
World Oil Demand
World oil demand growth is expected to rise by 1.53 mb/d in 2017 after an upward adjustment of 74 tb/d to account for the better-than-expected performance of China in 3Q17. In 2018, world oil demand is foreseen reaching 1.51 mb/d, around 130 tb/d higher than in the previous assessment.
World Oil Supply
Non-OPEC oil supply is now projected to grow by 0.65 mb/d y-o-y in 2017, representing a downward revision of 0.02 mb/d from last month’s report. For 2018, growth in non-OPEC oil supply has also been revised down by 0.07 mb/d to stand at 0.87 mb/d. OPEC NGLs and non-conventional liquids are expected to grow by 0.18 mb/d in 2018, following an increase of 0.17 mb/d in 2017. In October 2017, OPEC crude oil production decreased by 151 tb/d, according to secondary sources, to average 32.59 mb/d.
Product Markets and Refining Operations
Product markets in the Atlantic Basin weakened in October due to seasonally-lower gasoline demand following the end of US driving season. Nonetheless, US refining margins have exhibited some improvement y-o-y on the back of firm product demand and amid low stock levels. In Europe, solid middle-of-the-barrel demand offset weakness at the top and bottom. Product markets in Asia also weakened slightly, but remained at healthy levels, supported by the onset of refinery maintenance.
Tanker Market
Sentiment in the dirty tanker market generally strengthened in October, as freight rates for different classes showed improvements on most major trading routes. Average dirty tanker spot freight rates rose 16% compared to the previous month, on the back of improved seasonal tonnage demand, as well as port and weather delays, among other factors. Despite healthy gains in October, the shipping market remains in surplus, capping further increases in spot freight rates. Meanwhile, clean tanker freight rates experienced a relative decline, although remaining above the levels of the same month last year.
Stock Movements
Total OECD commercial oil stocks fell in September to stand at 2,985 mb. At this level, OECD commercial oil stocks are 154 mb above the latest five-year average. Crude and products stocks indicated a surplus of around 129 mb and 25 mb, respectively, above the seasonal norm. In terms of days of forward cover, OECD commercial stocks stood at 62.3 days in September, some 1.9 days higher than the latest five-year average.
Balance of Supply and Demand
Based on the current global oil supply/demand balance, OPEC crude in 2017 is estimated at 33.0 mb/d, around 0.71 mb/d higher than in 2016. OPEC crude in 2018 is estimated at 33.4 mb/d, about 0.46 mb/d higher than in 2017.
Source: OPEC
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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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- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
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