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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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Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
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- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
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