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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, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
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- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
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