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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
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