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