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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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Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
Monday, 09 September 19
ULTRAMAX: ASIA A 58,000-TONNER FIXED DELIVERY FUZHOU, VIA INDONESIA, REDELIVERY CHINA, AT $12,800
Capesize
0px The market reached new heights this week as the 5TC topped $38,014, a level not seen in the sector since 2013. Fridays 5TC closed ...
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Showing 1341 to 1345 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- White Energy Company Limited
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
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