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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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Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
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- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Commonwealth Bank - Australia
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- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
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- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
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