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