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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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- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
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