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