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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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Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
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- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
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