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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
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