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Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
 Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reached in the beginning of the year, buoyed by expectations for an improving market situation, despite the current persistent oversupply. Oil futures surged more than 8%, with ICE Brent up $3.55 to average $43.34/b, while Nymex WTI rose $3.16 to $41.12/b.
World Economy
World economic growth is forecast at 3.1% in 2016, after estimated growth of 2.9% last year, both unchanged from the previous month. OECD growth in 2016 remains at 1.9%, slightly below the 2.0% seen in 2015. In the emerging economies, India and China continue to expand this year at a considerable level of 7.5% and 6.5%, respectively, with China having been revised up by 0.2 pp after a better-than-expected 1Q16. Brazil and Russia, however, are forecast to remain in recession this year, contracting by 3.4% and 1.1% respectively, with Brazil having been revised down by 0.5 pp.
World Oil Demand
World oil demand in 2015 grew by around 1.54 mb/d, unchanged from last month’s report. Total oil consumption averaged 92.98 mb/d. In 2016, world oil demand is projected to rise by 1.20 mb/d to reach 94.18 mb/d, unchanged from last month’s projections, despite upward revisions to Other Asia, which were counterbalanced by downward revisions to Latin America and China.
World Oil Supply
Non-OPEC oil supply growth for 2015 has been revised up slightly to 1.47 mb/d for an average of 57.14 mb/d. For 2016, non-OPEC oil supply was adjusted lower to average 56.40 mb/d, contracting by 0.74 mb/d. The estimate for OPEC NGLs and non-conventional oils in 2015 has been revised down by 20 tb/d based on direct communication to show a rise of 0.13 mb/d to average 6.13 mb/d. Growth in 2016 has also been adjusted lower to 0.16 mb/d to average 6.29 mb/d. In April, OPEC crude oil production rose 188 tb/d to average 32.44 mb/d, according to secondary sources.
Product Markets and Refining Operations
Product markets in the US were supported by strong domestic gasoline demand amid tightening sentiment due to some outages and maintenance. In Europe, higher export opportunities for gasoline ahead of the driving season lent support to refinery margins. Meanwhile, Asian margins weakened despite peaking refinery maintenance in the region as the oversupply in middle distillates weighed on product markets.
Tanker Market
Dirty tanker spot freight rates declined on the back of lower VLCC and Aframax freight rates as tonnage availability grew while market activity remains limited. Suezmax spot freight rates improved in April supported by strong sentiment for several destinations combined with an occasionally tight position list. In the clean tanker market, West of Suez activities supported freight rates, while East of Suez rates remained weak.
Stock Movements
OECD commercial oil stocks fell in March to stand at 3,049 mb. At this level, OECD commercial oil stocks are around 361 mb above the latest five-year average. Crude inventories showed a lower surplus of 215 mb, while products were broadly flat at 146 mb. In terms of forward cover, OECD commercial stocks stood at 66.8 days, some 7.5 days higher than the latest five-year average. Balance of Supply and Demand Demand for OPEC crude in 2015 is estimated to average 29.7 mb/d, unchanged from the previous month and 0.1 mb/d lower than the previous year. In 2016, demand for OPEC crude is projected at 31.5 mb/d, unchanged from the previous report and 1.8 mb/d higher than last year.
Source: OPEC
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Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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Showing 2421 to 2425 news of total 6871 |
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- Ministry of Mines - Canada
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
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