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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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Showing 2436 to 2440 news of total 6871 |
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- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
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