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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, 04 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
For yet another time, the market seems to have its own drivers. After a very disappointing first half, the recent recovery in the shipping market i ...
Tuesday, 20 August 19
NORDEN HAS BEEN AWARDED A 3-YEAR CONTRACT FOR THE TRANSPORTATION OF COAL FROM INDONESIA TO HONG KONG
NORDEN has been awarded a 3-year contract with a power company in Hong Kong for the transportation of coal from Indonesia to Hong Kong.
...
Tuesday, 20 August 19
THE AUGUST 2019 INDONESIAN COAL PRICE REFERENCE POSTS THE FIRST MONTHLY GAIN SINCE AUGUST 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Monday, 19 August 19
INDONESIAN COAL RUNS, A 82,000DWT SHIP WAS FIXED DELIVERY CHINA VIA INDONESIA, REDELIVERY JAPAN, IN THE MID $16,000S - BALTIC BRIEFING
Capesize
The Capesize market was buoyant in both basins this week, posting gains across the board. After bottoming out the previous week, rates ...
Sunday, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
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Showing 1346 to 1350 news of total 6871 |
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- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
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