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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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Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
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- Sical Logistics Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
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- VISA Power Limited - India
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- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
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- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
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- Planning Commission, India
- Semirara Mining Corp, Philippines
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- Sakthi Sugars Limited - India
- ASAPP Information Group - India
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- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
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- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
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- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
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- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
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- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
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- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
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- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
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