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