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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, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
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- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Medco Energi Mining Internasional
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
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