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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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Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
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- Grasim Industreis Ltd - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Parliament of New Zealand
- VISA Power Limited - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
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