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Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and irregular on Jan.13:
380 HSFO – USD/MT – 388.82 (+0.72)
VLSFO – USD/MT – 660.00 (-1.00)
MGO – USD/MT – 702.06 (+0.75)
Meantime, world oil indexes fell on Jan.13 as investors shifted their focus away from easing Mideast tensions to this week’s scheduled signing of an initial U.S.-China trade deal.
Brent for March settlement declined by $0.78 to $64.20 a barrel on the London-based ICE Futures Europe exchange. West Texas Intermediate for February fell by $0.96 to $58.08 a barrel on the New York Mercantile Exchange. The Brent benchmark traded at the premium of $6.12 to WTI. Gasoil for February delivery lost $16.75.
Today morning global oil indexes do not have any firm trend.
It is expected that the U.S. and China agreement is already largely discounted in the price level, and is unlikely to provide a strong boost to oil prices. A U.S.-China trade deal is due to be signed in Washington on Jan.15. The Trump administration has invited at least 200 people to a ceremony for the signing, but the two nations have not yet finalised details of what will be signed.
This year, Chinese crude oil demand growth could be just half of the estimated growth for 2019, and the lowest growth pace since the financial crisis in 2008. Apparent demand for oil in China—calculated by adding domestic production to net imports and changes to inventories—is set to increase by just 2.4 percent in 2020, less than half the 5.2-percent growth estimated for 2019. the impact of the U.S.-China trade war will continue to be felt in the Chinese economy, whose growth will linger at 6 percent.
Last week, the U.S. House of Representatives voted to curb U.S. President Donald Trump’s power to strike Iran. Meanwhile, in comments to Fox News, Vice President Mike Pence said the Islamic Republic has asked militias in the Middle East not to carry out attacks against U.S. interests. The situation in Iran remained volatile, however, as its citizens protested after the government admitted on Jan.11 that it had mistakenly show down a Ukrainian passenger jet, killing all 176 people on board. Iran’s government said it was forming a working group to probe the crash and compensate victims.
OPEC not only continued to cut its crude oil production in December 2019, but it also managed to reach its deeper-cut target for Q1 2020 a month earlier than planned. As in all previous months, Saudi Arabia overcomplied significantly with its share of the cuts, helping the cartel achieve the new quota effective January a month early (Saudi Arabia’s December oil production was 9.82 million bpd: a way below the December quota of 10.3 million bpd. The Saudis were still compensating for rogue OPEC members Iraq and Nigeria, which, despite cutting their respective production, were still not complying with their December quotas. OPEC’s total crude oil production stood at 29.55 million bpd in December, down by 100,000 bpd compared to November.
Rystad Energy continues to see a downward risk to prices, with further pressure on OPEC to implement even deeper production cuts in order to keep Brent oil prices around $60 per barrel through 2020. Oil prices still react dramatically to news of tensions in the Persian Gulf, although less dramatically now than they would have before the US shale revolution. The importance of the region for oil markets is obvious, given that seven Gulf countries alone – Saudi Arabia, Iraq, UAE, Kuwait, Iran, Oman and Qatar – produced around 24 million bpd of crude oil in December 2019. Rystad Energy forecasts that the ‘call’ on OPEC will average about 28.3 million bpd during the final nine months of 2020. By comparison, OPECs actual production in December 2019 was 29.6 million bpd, and the cartel’s new implied production target for the first quarter of 2020 is 29.2 million bpd.
The Chinese Maritime Safety Administration (MSA) has rooted out two cases of ships using fuel that did not comply with the new IMO 2020 regulations. In statement issued on 10 January, the Standard Club revealed that it had received reports about the incidents. In one case, the ship was under a Port State Control inspection in Qingdao when the MSA verified the use of fuel oil with a sulphur content of .6777% mm. The MSA also found that a ship berthed in Xiamen has been burning non-compliant fuel. The ship had been at berth nearly six days after changing over to compliant fuel – and it is likely that previous high sulphur fuel residue remained in the engine fuel system resulting in emissions over the China ECA limit. It is ‘not clear yet whether the MSA will fine the ships for the IMO 2020 violations.
The International Energy Agency (IEA) said, by 2040, India’s oil consumption is set to increase at the fastest pace than any major economy in the world as the country is becoming increasingly influential in global energy markets. Currently, India is the world’s third largest consumer of oil, the fourth largest oil refiner, and a net exporter of refined products. India’s oil demand growth rate is expected to surpass the growth pace of China in the middle of the 2020s, making India a very attractive market for refinery investment. Besides, India’s oil import dependency is set to rise significantly in coming decades, from an already high dependency of over 80 percent in 2018.
We expect bunker prices may go down today in a range of minus 3-6 USD for IFO and minus 9-15 USD for MGO.
Source: MABUX
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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
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