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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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- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Australian Coal Association
- MS Steel International - UAE
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
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