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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Star Paper Mills Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Indian Oil Corporation Limited
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