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