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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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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Planning Commission, India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
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