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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, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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Showing 2476 to 2480 news of total 6871 |
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- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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