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Monday, 14 October 19
WINTER OIL MARKET OUTLOOK - OPEC
 Product markets in the last two months have benefitted from seasonal maintenance which have led to a tighter product market environment, providing some support to product crack spreads and refining margins. With most refineries now back online in all main regions, refinery intakes have risen steadily, to stand some 1.0 mb/d higher in September compared to the same month last year.
As a result of new refining capacity over the last year, refinery runs during winter are likely to reach new record highs, leading to potentially higher supply in the product markets. At the same time, economic headwinds pointing to a slowdown in manufacturing in the OECD may result in a possible decline in consumption of heavier fuels, weighing on the outlook for product markets over the winter season, while increased competition from ethane and LPG may also bite into demand for products including naphtha and transport fuels. In the US, gasoil consumption is expected to receive support from the manufacturing, construction and freight sectors.
Moreover, a seasonal pick up in heating oil demand this winter is expected, despite increasing substitution by natural gas. Jet fuel markets should also remain supported by an uptick in travel activities, particularly in the holiday season. In contrast, the seasonal decline in gasoline demand in the winter months will once again weigh on prices and ultimately refining economics (Graph 1). This may result in higher gasoline exports in 4Q19 to prevent strong inventory builds and to keep gasoline prices stable. Naphtha crack spreads will also come under pressure and suffer losses as strong LPG output, and lower LPG prices in the US continues to compete with naphtha.
US oil demand growth by main petroleum products, mb, y-o-y change In Europe, the slowdown in transportation fuel demand will continue representing a challenge to product markets. Despite a slight pick-up in gasoline consumption in 1H19, mainly in France, unfavourable economic fundamentals have dampened demand in Germany. Moreover, a mild pick up in gasoline powered vehicle sales observed in France, Italy and Spain has been offset by a decline in overall car sales. The pressure in Europe’s product markets could be further exacerbated by new cracking and other upgrading projects in Russia and Belarus, which is projected to increase regional transport fuel production by the end of 2019.
Furthermore, data reflects a declining trend in product demand in the fourth quarter, particularly for naphtha and residual fuel. In Asia, gasoil markets will remain supported by industrial and transportation demand. However, product balances will most likely soften compared with the previous year, once all refineries restore their operation activities in 4Q19, resulting in excess product supply, particularly for gasoline. Concerning the IMO 2020, a combination of declining heavy crude availability, increased refinery conversion capacity, growing appetite for heavy crude, and stricter sulphur limits on marine bunker fuel are likely to lead to rising prices for low sulphur fuel oil (LSFO). At the same time, the declining availability of high sulphur fuel oil (HSFO) could also hold up prices for that product to some degree.
Together with a mismatch in terms of quality between available and required crude slates for refinery intake, this could provide limited support to processing rates as refineries will have to resort to higher intakes to boost fuel oil or compliant marine fuel production. Graph 2: OECD Europe oil demand growth by main petroleum products, mb, y-o-y change Looking ahead, factors such as the onset of the winter season, healthy demand for middle distillates in Asia, and preparations for IMO should support middle-to-heavy product markets in the coming months. At the same time, uncertainties regarding the global economic outlook, declining car sales and fuel substitution programmes in Europe, and higher products supply from Asia could limit the upward trend in the product markets this winter.
Source: OPEC
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Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
...
Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
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Showing 1336 to 1340 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- MS Steel International - UAE
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
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