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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as newbuilding deliveries increase, BIMCO said in its latest report.
According to Niels Rasmussen, Chief Shipping Analyst of BIMCO, driven by increasing sailing distances product tanker demand is also expected to grow faster than supply in 2024 but slower in 2025 as ships return to normal routings. A tightening supply/demand balance should result in increases in rates and prices in both market in 2024 but could weaken in 2025, especially in the product tanker sector.
Demand
The report further noted that, the IMF estimates that the global economy will grow 3.2% in 2024 and 3.3% in 2025. Growth is slowing in key countries such as the US, China and India. The IEA estimates that crude supply will grow 0.3 mbpd in 2024 and 1.5 mbpd in 2025. Mainly US, Brazil and Guyana will increase supply.
The IEA expects, the report says, an oil demand increase of 1.0 mbpd in both 2024 and 2025. Demand continues to grow mainly in Asia while demand in OECD countries has stagnated.
We have assumed that Red Sea rerouting may last throughout 2024. Longer sailing distances are therefore estimated to drive 100% of 2024 demand increases, Niels Rasmussen, Chief Shipping Analyst of BIMCO says in its report.
Supply
commenting on supply, the report says, the crude tanker fleet is estimated to grow 0.5% in 2024 and 1.2% in 2025 as the order book remains small.
Product tanker fleet growth is expected to be 1.6% in 2024 but increase to 4.8% in 2025 as deliveries of ships contracted in 2023 begin.
predicted weakening of product tanker fundamentals are expected to lower sailing speed in 2025. In 2024, sailing speed will not impact supply growth, the latest report of BIMCO says.
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Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
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- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Economic Council, Georgia
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- Australian Coal Association
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- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
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- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
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- India Bulls Power Limited - India
- The University of Queensland
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- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
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- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
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- Wood Mackenzie - Singapore
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- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
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- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
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- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
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- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Merrill Lynch Commodities Europe
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- Therma Luzon, Inc, Philippines
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- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
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- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
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- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
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