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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
 We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should help solve the country’s real estate crisis and boost bulk demand.
However, demand growth could weaken to 1-2% in 2024 due to an expected reduction in coal shipments. Import demand should fall as India and China continue to boost domestic mining and Europe transitions away from fossil fuels.
The International Monetary Fund (IMF) estimates global economic growth of 2.9% in 2023 and 3.1% in 2024. The Chinese economy is now estimated to grow by 5.2% in 2023, a 0.8 percentage point increase over the IMF’s previous forecast.
The dry bulk fleet is forecast to grow by 2.7% in 2023 and by 2.0% in 2024. Deliveries remain limited amid a small orderbook at 7.5% of the fleet.
Supply is estimated to grow by 0.5-1.5% less than the fleet in 2023 and 2024 due to lower speeds caused by compliance with EEXI and CII regulations.
The supply/demand balance should improve in 2023, although risks will remain in 2024. We expect rates to start recovering as demand picks up in China.
Capesizes should benefit from a recovery in iron ore demand, while panamax ships are most exposed to a drop in coal shipments.
We expect freight rates to improve from the second half of 2023 onwards as a pick-up in demand in China drives an improvement in the supply/demand balance. Even though we expect demand growth to slow in 2024 as Europe cuts coal shipments and import demand from India and China stabilises, supply is still expected to grow at a slower pace and market conditions may still improve marginally. The bulk carrier fleet should grow by 2.7% in 2023 and by 2.0% in 2024 amid limited deliveries. Additionally, we expect environmental regulations to reduce supply growth by 0.5-1.5% as sailing speeds fall. Overall, supply is expected to increase by 1-2% in 2023 and by 0.5- 1.5% in 2024, while demand growth is predicted at 1.5-2.5% in 2023 and 1-2% in 2024. The expected recovery in iron ore shipments should result in a welcome rebound in capesize market conditions that have suffered from the low iron ore volumes throughout 2022. Conversely, the expected loss of coal shipments in 2024 could be a cause for concern for panamax ships since coal accounts for over half of their volume. The predicted improvement in the overall supply/demand balance is quite marginal as demand will outpace supply by only 0.5 pp in both 2023 and 2024. As such, the improvement is still vulnerable to a variety of risks that could still affect the demand outlook for 2023 and 2024. A slower-than-anticipated economic recovery in China or a delayed resolution of the real estate crisis could have a direct and significant impact on demand, thus impacting overall conditions for the dry bulk market.
Source: BIMCO
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- GMR Energy Limited - India
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