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