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