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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, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
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Showing 2491 to 2495 news of total 6871 |
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- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
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