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