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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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Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
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- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
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- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
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