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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, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
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