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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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Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
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- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
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