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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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Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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Showing 2456 to 2460 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- White Energy Company Limited
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
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