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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, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
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