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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, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
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- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
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