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