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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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Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
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