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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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Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
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- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- MS Steel International - UAE
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
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