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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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Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- The University of Queensland
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
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