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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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Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
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