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