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