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