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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, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
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Showing 1361 to 1365 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- VISA Power Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
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