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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, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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Showing 2416 to 2420 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
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