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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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Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
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Showing 2516 to 2520 news of total 6871 |
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- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- The University of Queensland
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
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