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