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