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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
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