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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, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Planning Commission, India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
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