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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, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
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- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Australian Coal Association
- PTC India Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
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