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