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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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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
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Showing 1211 to 1215 news of total 6871 |
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- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- The University of Queensland
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Australian Coal Association
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- India Bulls Power Limited - India
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