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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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Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- The University of Queensland
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
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