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