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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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Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
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- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
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