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