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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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Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
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