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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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Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
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Showing 2426 to 2430 news of total 6871 |
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- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Economic Council, Georgia
- The University of Queensland
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
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