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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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- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
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- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
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- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Australian Coal Association
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
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