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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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Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
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