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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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Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
Saturday, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
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- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- White Energy Company Limited
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
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