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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, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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Showing 2421 to 2425 news of total 6871 |
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- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
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