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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, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
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