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