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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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Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
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- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
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