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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, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
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Showing 2536 to 2540 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Coalindo Energy - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Bhatia International Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
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